Port Canaveral is back in business now that cruise lines have returned to sailing, and the outlook for fiscal year 2022 is projected to be a record year.
“August was the first time in 17 months that we covered our operating expenses and debt service in the result. So it’s been a long 17 months but we’re back,” said port CEO Capt. John Murray on Wednesday at the board of commissioners meeting.
Since Carnival’s new ship Mardi Gras first sailed July 31 from the port, seven ships have returned to business, even if not at full capacity, Murray said. That includes 66 sailings through Sept. 29 across Carnival, Royal Caribbean, Disney Cruise Line and MSC Cruises. Norwegian Cruise Line is expected to return in November.
“Our passenger capacity has been increasing. Every week there seems to be a few more folks on the ships,” Murray said noting that brands have ranged from 40% to 80% occupancy rate on startup, but aligning with port expectations. “It’s been quite active, and we look at it being even more active in the coming months. ... Now that everyone’s vaccinated, the numbers are coming up. It’s really been a game changer.”
Cruise lines shifted to require vaccinations to combat the spread of COVID-19 for all passengers 12 and older despite Florida law prohibiting business from requiring proof of vaccination because the Bahamas won’t let any ship with unvaccinated passengers to visit. An injunction against the state enforcing the law against Norwegian Cruise Line and its sister brands is in place, and the state has decided to not enforce it for any cruise line until an appeals court rules on the injunction.
With legal wrangling aside, cruise lines have been able to restart from Florida ports since late June, and Port Canaveral looks to end its fiscal year on Sept. 30 on positive note, lining up what would be a record year across the board for FY22.
Overall revenue is projected to surpass $109 million with more than $84 million from cruise operations. That would surpass the $81.9 million earned from cruise business in 2019.
The numbers would be a vast turnaround from the pandemic shutdown that was 2022.
Final numbers for FY21 won’t be available until after Sept. 30, but with 11 months of financial data through August, the port reported:
Operating revenues: $28.9 million, which is $877,000 above budget
Cruise revenue including parking: $6.4 million, which is $892,000 below budget
Cargo Revenue: $10.4 million, $926,000 above budget
Operating expenses: $32.5 million, $1.4 million below budget
Change in net position: $37.5 million loss
For FY22, the port projects the following:
Operating revenues: $109.2 million
Cruise revenue including parking: $84.3 million
Cargo Revenue: $15.2 million
Operating expenses: $49 million
Change in net position: $68.5 million
