Canaveral and Carnival terminal agreement

Canaveral Port Authority and Carnival Cruise Line will invest in building and equipping a new two-story 185,000-sq ft terminal to accommodate the as-yet-unnamed 180,000-tonne Carnival Cruise Line ship, engineered with the operator’s state-of-the-art LNG “green cruising” design platform.

“The most exciting aspect, and the reason a new terminal is necessary, is that this groundbreaking new class of ship – the largest ever constructed for Carnival Cruise Line – will be home ported at Port Canaveral when it’s delivered in 2020,” said Captain Murray, CEO, Port Canaveral.

“This ship, which can carry up to 6,500 passengers will be the first LNG-powered cruise ship based in North America,”

Milestone agreement

The new operating agreement, which begins 1 September 1 2018 and replaces an existing six-year agreement set to expire next year, provides a 25-year primary term with four additional five-year renewal options.

Under the terms of the agreement, Carnival’s minimum annual guarantee increases from the current fixed US$7 million passenger fee to $14.5 million with annual escalators.

Constructing the new CT-3 terminal, plus an adjacent elevated parking facility to accommodate nearly 1,800 vehicles and related wharf, road and access improvements will total $150 million – estimated to be the largest single project in the history of the Port.

The new terminal is planned for completion by June 2020.