Quinta Modal Transportation Pt 5 – Port Canaveral

Let us introduce you to “Port Canaveral”- A cruise, cargo, and naval port in Brevard County, Florida, a 30-minute drive from the Orlando area. It is one of the busiest cruise ports in the world with 4.5 million cruise passengers passing through and over 6 million short tons of bulk cargo moving through each year. Port Canaveral is at the center point for the use of LNG as an aerospace and marine fuel. 

 Port Canaveral has been ranked as the world’s 2nd busiest cruise port in multi-day embarkation for the past 10 years straight. However, they are not contemptuous of being second and are striving for that number 1 spot. According to cruise consultants Bermello Ajamil & Partners, industry growth based on the ships, under construction, will generate a necessity for 10 additional terminals in Florida, and Port Canaveral is the only port that has the opportunity to service and fulfill that very demand. They also mention their financial stability and cash flow making the opportunity for large investments and growth a possibility which is impressive due to the fact they are non reliant upon government funding. The future looks bright for the port and the area surrounding it due to its resilience to strive for improvements. The team mentions “We are right on course, building and planning new facilities to attract ships and visitors. We are currently in the process of preparing a new portwide master plan that will prepare us for the future to meet the long-term demands of our Cruise Industry Partners as well as our three other business lines of Cargo, Recreation, and Real Estate.” These developments are not cheap… Some are in the range of $110 Million for their new Cruise Terminal One and over $150 Million for Cruise Terminal Three.   

It makes sense to ultimately find a positive impact on the Orlando area based on the current and future success. We will see a major tourist draw: Due to being consistently ranked among America’s most popular vacation destinations, Orlando welcomed a record 75 million domestic and international visitors in 2018 and with the expansions and developments of Port Canaveral we might just see this increase evermore. Its no doubt they are in the right market for success as tourism industry growth had an estimated $5 billion in capital investment improvements and additions across Orlando’s tourism industry and Port Canaveral has its need for commercial real estate due to its expanding container and cargo terminals meaning it has acquired several distribution and warehousing sites that offer direct access to the seaport, major highways and rail lines. The seaport’s pro-business attitude and focus on cost-saving alternatives offer the ability to create lasting partnerships that benefit the community and create economic growth for the region. 

Watch the video here: https://youtu.be/E2ByQqzvQH0