Port Everglades Extends Deal with Terminal Operator

Florida’s Port Everglades and the US-based marine terminal operator King Ocean Services Limited have renewed their 20-year lease agreement.

The agreement calls for a minimum 72,000 container lifts annually over an initial 10-year term with two five-year renewal options, and is expected to generate approximately USD 56 million in revenue to the port during the initial 10 years.

This deal includes relocating King Ocean’s terminal within the port’s Southport cargo area during construction for the Southport Turning Notch extension project, which will lengthen the existing deepwater turn-around area from 900 feet to 2,400 feet and allow for up to five new cargo berths.

Construction is expected to begin in early 2017 and be completed by the end of 2019.

During its 22 years in the port, King Ocean, which operates twice-weekly from Port Everglades with services to Venezuela, Aruba, Curacao, Colombia, Costa Rica and Panama, has expanded its marine terminal from the original 22.84-acre site to 41.1 total acres in two locations within the port.

In 2015, the company handled 153,984 TEUs through port Everglades.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >