Port Canaveral Reports Record Breaking Year and Historic Highs in Operating Businesses

10/31/2018

Port surpasses $103M in total revenues, reaching historic milestones for
cargo tonnage and cruise ship passengers in FY ‘18



In FY18, Port Canaveral topped $103 million in total revenues and
$10 million in cargo revenues for the first time in the Port’s 65-year history.
(Photo: Canaveral Port Authority)
 
Port Canaveral, FL – Oct. 31, 2018 – Port Canaveral today announced record-breaking results from all operations, and new high-water marks for the Port’s major business lines of cruise and cargo.
 In year-end financials provided to the Canaveral Port Authority Board of Commissioners at its regular monthly meeting on Wednesday, Port CEO John Murray and Chief Financial Officer Mike Poole reported that the Port earned $103.75 million in total revenue for Fiscal Year 2018.

Port Commission Secretary/Treasurer Tom Weinberg stated, “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.”
The Port’s FY ‘18 operating revenues reached $101.72 million with over $10 million in cargo revenues earned – the first time in the Port’s history – and an all-time high for multi-day cruise ship passengers at the Port. The FY ‘18 figures are $8.44 million above last year’s reported revenues of $93.28 million and a 120-percent jump from FY ‘08, when operating revenues totaled $46.1 million.

“These historic achievements are affirmation that the course we’ve charted for our Port is a good one,” stated Port CEO 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 ever launched multi-day vacations at Port Canaveral in FY ‘18, as the number of passenger movements at the world’s second busiest cruise port rose by 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 FY ‘18 revenues, rising by 18-percent from FY ’17 to an all-time high of $10.15 million. Cargo tonnage in 2018 rose to 6,404,944 tons, a 6.9-percent increase over the previous 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,” Commission Chairman Wayne Justice stated. “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.

Port Canaveral, the world’s second busiest cruise port with more
than 4.5 million multi-day cruise passenger movements in FY’18
(Photo: Canaveral Port Authority)
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ABOUT PORT CANAVERAL  
Led by the elected five-member Canaveral Port Authority Board of Commissioners and Port Director and CEO, Captain John Murray, Port Canaveral is one of the world's most dynamic and exciting ports. A world-class gateway for cruises, cargo, recreation and logistics, as well as a gateway to new frontiers, including space, Port Canaveral hosts more than 4.5 million revenue cruise passengers through its state-of-the-art terminals and more than 6 million of tons of cargo annually, including bulk, break-bulk, project, and containerized. The Port is strategically located to service all Florida markets, as well as the Southeastern United States. In addition to world class cruise facilities and diverse cargo operations, Port Canaveral offers more recreational opportunities than all other Florida deep-water seaports combined, including public parks, free public boat ramps, marinas, an entertainment district, and the seven-story interactive exhibit and event venue Exploration Tower. For more information, visit www.PortCanaveral.com
 
Media Contact
Steve Linden
Director, Communications and Public Affairs
Tel: (321) 394-3244 | Cell: (321) 576-3282
Slinden@portcanaveral.com