PORT CANAVERAL – Port Canaveral announced record-breaking results from all operations, and new marks for its business lines of cruise and cargo.
In its year-end financial reports provided to the Canaveral Port Authority Board of Commissioners at its regular monthly meeting on Oct. 30, John Murray, Port Chief Executive Officer and Mike Poole, Chief Financial Officer, reported that the Port earned $103.75 million in total revenue for the 2018 fiscal year.
“This is more than double the Port’s Fiscal Year 2008 revenues of $47.4 million and represents an exceptional return on cruise and other capital investments,” said Port Commission Secretary/Treasurer, Tom Weinberg.
The Port’s 2018 fiscal year operating revenues reached $101.72M with over $10M in cargo revenues earned. It marks the first time in the Port’s history and an all-time high for multi-day cruise ship passengers. The figures report $8.44M above last year’s reported revenues of $93.28M and a 120-percent jump from its 2008 fiscal year, when operating revenues totaled $46.1M
“These historic achievements are affirmation that the course we’ve charted for our Port is a good one,” said Port Chief Executive Officer Capt. John Murray. “We’re continuing to look ahead to strong organic growth, sound business planning, and a clear focus on creating a best-in-class experience for every customer.”
More cruise guests than any previous year launched multi-day vacations at Port Canaveral in 2018, as the number of passenger movements at the world’s second busiest cruise port rose from 327,489 to 4,568,431 in 2018, a 7.7 percent increase over last year.
The Port’s growing diverse cargo portfolio reported double-digit increases in revenues, rising by 18-percent from last year. Cargo tonnage in 2018 rose to 6,404,944 tons, a 6.9-percent increase from last year.
“These are exciting times at the Port. Our evolution from a small man-made port for the military to a 21st century economic driver for the Central Florida region and beyond has been driven by deliberate and strategic decisions,” said Wayne Justice, Commission Chairman “Our strong partnerships with our customers and our community, combined with a commitment to enhance the value of our assets and invest in infrastructure will continue to promote solid growth and prosperity.”
Port Canaveral’s fiscal year ended September 30, 2018. The Port marks the 65th anniversary of its dedication on Sunday, Nov. 4.
For more information call (321) 576-3282 or visit www.portcanaveral.com.