Within the last year, Port Canaveral took the title of world’s busiest cruise port and shows no signs of slowing down anytime soon.
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The port expects to see 10.9 million passenger movements and 23 homeported ships in its 2027 fiscal year, which begins Oct. 1, up from 9 million passengers and 20 homeported ships in the current fiscal year. The growth of the cruise industry and increased calls at Port Canaveral will help drive operating revenue up by $44.4 million to an expected $281.8 million for FY2027.
The upcoming fiscal year will see 1,213 ship calls, up from 1,080 this year, and a 33% increase in five- and six-ship days at the port.
“It’s not only a win for Port Canaveral, it’s a win for the communities and families that benefit from the economic activity that we create here at the port every single day,” said Port Canaveral Chief Financial Officer Jeff Long during the port’s August commission meeting. “Notably, all of our cruise line partners are increasing calls from this year to next year, underscoring the strategic importance that Port Canaveral plays within the entire cruise industry.”
Royal Caribbean leads the way for ship calls with 319 in 2027, followed by Carnival with 302, Disney Cruise Line with 235, Norwegian Cruise Line with 155 (more than double from last year), MSC with 146 and other cruise lines with 56.
Next year, the port will welcome Carnival Festivale, the company’s largest ship to date with a capacity of 6,600 passengers, and MSC World Atlantic, a massive vessel with room for 6,800 guests. The new ships are scheduled to debut in May and November, respectively.
Cruise-related income accounts for about 87% of the port’s operating revenues, spurring capital improvement projects both planned and underway. The “Port Canaveral Advantage” is a 5-year, $1 billion capital improvement program aimed at supporting growth in all areas of the port, especially cruising.
Port Canaveral expands Cruise Terminal 5, adds 3,700 parking spots with new garage
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A new 13-story garage with 3,700 parking spaces at Cruise Terminal 6 is expected to be completed in October; Cruise Terminal 5 is expanding from 90,000 to 170,000 square feet, with the project expected to finish in December. Both projects combined represent a nearly $175 million investment.
Port Canaveral recently began construction on a $95 million expansion of Cruise Terminal 10, which will grow to encompass 145,000 square feet, 30% larger than the existing space. The project is expected to be completed by November 2027 in time for the arrival of MSC World Atlantic.
Other projects factored into the expected $203 million budget for cruise-related capital improvements in FY2027 include the Cruise Terminal 3 west parking garage and upgrades to passenger boarding bridges.
The port is also working on the design of Cruise Terminal 4, which will eventually take shape on the 11-acre space where Bluepoints Marina currently resides.
Earlier this month, Fitch Ratings upgraded the Canaveral Port Authority’s port improvement revenue bonds from “A” to “A+” with a stable outlook. Fitch’s report cites the Port’s “strong market position as a leading cruise port on the U.S. East Coast” and “significant infrastructure investments underway that are expected to support long-term revenue growth.”
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