New PortMiami Projects Include the Biggest Lease Deal in Port History

The Miami-Dade County Commission has approved 11 new projects at PortMiami, including a major deal with MSC Cruises and an expansion plan for Carnival.

MSC Cruises, a global cruise line based in Geneva, will build a two-terminal building on 16.7 acres under a 62-year lease. Representatives for the cruise line believe the $300 million project is the biggest lease deal in port history.

The approved MSC plan will feature both terminals in the same building, which will allow two cruise ships to operate simultaneously. MSC intends to homeport four vessels total in Miami, and officials say the number could grow in the future.

The City Commission also approved Carnival Cruise Line’s complete renovation and expansion plans to accommodate new mega-ships in PortMiami’s Cruise Terminal F in the coming years.

“These PortMiami deals constitute the most extensive transactions done by our port simultaneously,” said Miami-Dade County Mayor Carlos Gimenez. “These deals are expected to generate a total minimum revenue guarantee of approximately $4.6 billion in wharfage, dockage and capital recovery fees during the initial phase of the deals.”

In total, the city approved 11 projects at the port, including others for Norwegian Cruise Line and Virgin Voyages.

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