WATCH REPLAY: 2022 State of the Port Address from Cruise Terminal 3 at Port Canaveral

Chief Executive Officer John Murray reported revenues of $128 million during 2021-22 fiscal year

WATCH REPLAY: Port Canaveral hosted the 2022 State of the Port on Wednesday at Cruise Terminal 3, and Chief Executive Officer John Murray reported revenues of $128 million during the 2021-22 fiscal year. (CPA video)

BREVARD COUNTY • PORT CANAVERAL, FLORIDA – Port Canaveral hosted the 2022 State of the Port on Wednesday at Cruise Terminal 3, and Chief Executive Officer John Murray reported revenues of $128 million during the 2021-22 fiscal year.

The port’s cruise business has bounced back strong after the 17-month COVID shutdown, generating the lion’s share of the revenue at $99 million. Cargo operations accounted for $18.5 million, and non-shipping operations produced $10.6 million for the port. The budget projected $108 million.

Port Canaveral’s cruise partners hosted 4.1 million passengers during 2021-22 and expect that to grow to 5.8 million during the 2022-23 fiscal year, with projected revenues of $154 million for the port.

Port Canaveral is the world’s second-busiest cruise port, with five cruise lines currently operating there, including Carnival, Disney, MSC, Norwegian, and Royal Caribbean.

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Included in the lineup of the world’s most impressive cruise ships that call Port Canaveral home is the world’s largest cruise ship, the Royal Caribbean International’s Wonder of the Seas, which is now homeported in Port Canaveral at Terminal 1.

In addition, Victory Casino Cruises’ ship Victory 1 also operates twice-daily sailings out of Port Canaveral.

Port Canaveral hosted the 2022 State of the Port on Wednesday at Cruise Terminal 3, and Chief Executive Officer John Murray reported revenues of $128 million during the 2021-22 fiscal year. (CPA video image)

To accommodate future growth, Murray stressed the need for an additional cruise terminal and parking capacity. He also said that additional capacity to accommodate cargo operations is also key to future growth in that category.

Also highlighted during the presentation was the port’s role in the growing commercial space industry and future deep space initiatives. SpaceX is currently operating out of the port with their drone ship, and three additional space companies are expected to use the port facilities within two years.

Looking ahead, an optimistic Murray said revenues for October and November of this year are exceeding projections.

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