Seatrade Cruise News is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Proposed Miami-Dade bonds include $335m for PortMiami cruise terminals

CRUISE PortMiami.jpg
Proceeds from the bonds would help PortMiami pay for portions of infrastructure projects related to Virgin Voyages, NCL, Carnival Cruise Line, MSC Cruises and Disney Cruise Line
Miami-Dade County's proposal to issue up to $500m in special obligation bonds includes $335m to fund cruise terminal projects at PortMiami.

Virgin, NCL, Carnival, MSC, Disney facilities

Specifically mentioned are $130m toward the Virgin Voyages terminal, $78m toward Norwegian Cruise Line's new terminal and its passenger boarding bridges, $70.5m for Carnival Cruise Line's new Terminal F, $5m for MSC Cruises' Terminals AA/AAA and $20m for their adjacent Berths 8 and 9 and the Disney Cruise Line Berth 10.

Not full project costs

These are not full costs for the infrastructure but portions of the port's commitments. In the case of the MSC facility, for example, that is a $300m project that will be funded by MSC Cruises. The port's obligation is for approximately $35m for environmental mitigation, capital contributions and other costs.

Boost for the cruise business

The fact that Miami-Dade County would propose to issue bonds to support PortMiami projects is a boost for the cruise industry at a time when the port itself is unable to issue more debt.

'This is a positive message the county is sending, that it sees the cruise business as viable long-term,' a source told Seatrade Cruise News. 

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.