Port Canaveral ECONOMIC REPORT

October 30, 2018 — The power and economic influence of Port Canaveral is growing in Central Florida. According to an article by Dave Berman, Florida Today, the Canaveral Port Authority reported revenue of $103.75 million for the budget year that ended Sept. 30. Profits more than tripled to $9.06 million in the budget year that ended Sept. 30, up from $2.81 million in the previous budget year.  Port Authority Secretary/Treasurer Tom Weinberg said this “represents an exceptional return on cruise and other capital investments.”

The port’s multiday cruise passenger volume for the budget year rose by 7.7 percent over the previous year. Carnival, Disney, Norwegian and Royal Caribbean ships are based at Port Canaveral–the world’s second busiest cruise port behind the Port of Miami. Revenue from multiday cruise ships was $75.62, up 7.1 percent.

The port’s cargo-related revenue rose 18.4 percent to $10.15 million. Among the big gainers in cargo were aggregate/limestone (up 35.6 percent), granite/rock (up 22.9 percent), lumber (up 90.6 percent), newsprint (up 68.3 percent) and salt (up 19.5 percent). Port cruise revenue also was boosted by new car imports and by recovered SpaceX rocket boosters returning through the port.

The total number of cruise ship calls was 693, up from 658 in the previous year. The total number of cargo ship calls was 491, up from 400 in the previous year.

“These are exciting times at the port,” Canaveral Port Authority Chairman Wayne Justice said. “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.”