Palm Beach has successfully retained a single cruise ship for year-round service for more than seven years, racking up nearly $20m in net revenues during this time, with an additional more than $4m projected this year.
Port executive director Manuel Almira projects a second vessel would add slightly more than $15m additional revenue over a 10-year period.
Curently, BPCL's Grand Celebration turns around at the port every other day in connection with cruises to Freeport, Grand Bahama Island, so that leaves the berth and the cruise terminal unused during the off days.
The new agreement would commence June 1, 2018, and cover both Grand Celebration and neoClassica. The agreement is contingent on a vessel purchase or charter agreement for the Costa ship. Costa reported the sale of neoClassica earlier this month.
The port estimates the two vessels would carry 765,000 passengers a year, up from 480,000 with one ship.
Net port income, from passenger charges and parking, is estimated to rise from a projected $39m over 10 years with just Grand Celebration to $54m with the addition of neoClassica, a more than $15m increase.
Commissioners will consider the new multi-vessel operating agreement for BPCL at their Aug. 17 meeting.
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