PORT
EVERGLADES
BROWARD
COUNTY•
i=LORIDA
Chief Executive Officer
And Port Director
Budget
Workshop
August 17, 2023
Jonathan Daniels
P
a
g
e
1
*
Financial Diversity – The Big Three
Cruise
▪ Third busiest cruise
homeport in the world
▪ 1,621,216 multi-day
passengers
▪ 96,692 daily passengers
Cargo
Energy
▪ Leading Perishables,
▪ One of two primary
#3 Container port in
energy ports in Florida
Florida
▪ 88% of energy
▪ Serving 150 ports in 70
products are domestic
countries
▪ 126,502,464 barrels
▪ 2,087 Total Ship Calls
▪ 588 ship calls
▪ 1,107,546 TEUs
P O R T E V E R G L A D E S
* FY2022
2
(
▪ While ship calls are not back to pre-Pandemic
levels, the average cruise ship occupancy of 89%
(through June 2023) was close to the FY2019
average of 94%
▪ Silver Nova, the latest luxury ship from Silversea
Cruises, is set for delivery this summer using
liquefied natural gas (LNG) as its main fuel with a
Current
first call at Port Everglades in January 2024
Trends –
▪ Azamara Cruises’ Azamara Onward will make her
Cruise
maiden call on October 21, 2023, after a multi-
million-dollar makeover
▪ Royal Caribbean’s Symphony of the Seas will shift
to Port Everglades after returning from Europe in
November 2023, sailing 6- and 8-night Caribbean
cruises, accommodating 6,000+ guests
P O R T E V E R G L A D E S
3
(
▪ Disney Dream will homeport in the newly
re-imagined Cruise Terminal 4 starting November 20, 2023,
offering year-round 4- and 5-day Caribbean cruises
▪ Celebrity Cruises Celebrity Ascent, the fourth Edge class ship, will
begin her inaugural season on December 3, 2023, with 7-night
Eastern and Western Caribbean itineraries
▪ Princess Cruises’ Sun Princess, currently under construction, is
scheduled to debut in early 2024 as Princess’ largest and first
LNG-powered ship able to accommodate 4,000+ guests with its
first call at Port Everglades in October 2024
▪ Newly rebranded Crystal cruise line will begin homeporting from
Port Everglades in November 2024, with the refurbished Crystal
Serenity
▪ Five cruise ships will be sailing during Summer 2024 as opposed
to three in FY2023. Enchanted Princess replaces the smaller
Caribbean Princess and Disney Magic joins the summer fleet
along with Celebrity Reflection, Celebrity Beyond, and Freedom
of the Seas
Current
Trends –
Cruise
P O R T E V E R G L A D E S
4
▪ Three additional new Super Post-Panamax gantry
cranes are expected to be delivered in the Fall of
2023
▪ MSC selected Port Everglades for its Santana
Service starting June 2023. The Port is the first U.S.
stop on the service from SE Asia
Current
▪ CMA CGM's AMERICAS XL service began operating
Trends –
in January. This is the only direct service
Cargo
connecting the West Coast of South America to the
U.S. East Coast
▪ Mid-size Caribbean carriers, including HLS and Ship
Lilly
P O R T E V E R G L A DE S
5
▪ Port Everglades recently completed a study
about adding shore power to the Port's eight
cruise terminals, which would allow cruise
ships to use electricity while in port instead of
burning fuel
Current
➢ The estimated cost for this project is $20 million
Trends –
per cruise terminal and would be completed in
phases between mid-2025 and the end of 2027
Energy
▪ Vecenergy completed construction of its new
Portofino jet fuel terminal, adding
approximately 500,000 barrels of storage for
jet fuel for international and executive airports
in Florida
P O R T E V E R G L A D E S
6
P O R T E V E R G L A DE S
Recommended Budget
FY2024
7
Year-to-Date Operating Revenues
Thru June 2023
Revenue
Source
June Actual
FY2022
June Actual
FY2023
(%)
Change
Cruise
$24,818,287
$49,002,499
97%
Energy
32,255,671
34,295,651
6%
Containerized Cargo
27,934,346
29,248,400
5%
Real estate
12,526,580
14,823,921
18%
Parking
5,023,340
8,749,962
74%
Breakbulk
3,726,617
3,825,971
3%
Bulk
6,017,266
6,026,675
<1%
P O R T E V E R G L A D E S
Lay
-in
4,841,377
1,760,573
(64%)
Other
1,352,500
1,419,435
5%
Total
$118,495,984
$149,153,087
26%
8
FY2023/2024 Revenue Comparison
Revenue
Source
FY2023
Adopted
Budget
FY2023 Mid-
Year Forecast
FY2024
Recommended
Budget
(%)
Change
FY2023 to FY2024
Cruise*
$36,940,860
$56,380,000
$64,017,190
73%
Energy
40,453,440
42,280,000
43,495,830
8%
Containerized cargo
34,151,110
38,280,000
39,669,180
16%
Real estate
19,324,690
18,786,000
19,515,910
1%
Bulk/Breakbulk
11,215,890
11,946,000
12,748,680
14%
Parking*
7,705,900
8,280,000
14,216,800
84%**
Other
3,454,380
3,127,000
3,289,880
(5%)
Total
$153,246,270
$179,079,000
$196,953,470
29%
P O R T E V E R G L A D E S
*The Port intends to request a budget adjustment of $3,391,120 for cruise, and $807,900 for parking in Schedule B due
to the addition of summer cruises that were announced after the original forecasts were developed
**Includes recommended rate increase from $15 to $20 per day which will be brought before the Board for approval
prior to implementation
9
$12,748,680
Bulk /
Breakbulk
6%
$3,289,880
Other
2%
$19,515,910
Real Estate
10%
$39,669,180
Containerized
Cargo
20%
$64,017,190
Cruise
32%
$43,495,830
Petroleum
22%
Parking
$14,216,800
7%
Forecasted Operating
Revenues for FY2024
$196,953,470
Summary
P O R T E V E R G L A D E S
10
FY2023/2024 Expense Comparison
P O R T E V E R G L A D E S
FY2023
FY2024
(%)
Expense Adopted
Recommended
Change
Budget
Category Budget
FY2023 toFY2024
Personnel
$26,953,390 $30,979,590
15%*
Total
$117,402,410
$131,124,600 12%
23,502,730
25,958,190
10%**
Security
16,467,380
16,152,720
(2%)
Repairs, Maint., Materials, Supplies
13,146,090
14,314,760
9%
Crane Operations
12,035,000
12,881,040
7%
Fire/EMS
5,640,960
7,662,040
36%
Insurance
5,360,080
7,301,330
36%
Professional Services
5,368,080
6,174,690
15%
Utilities
5,121,570
6,080,560
19%
Other
3,807,130
3,619,680
(5%)
County Services & Cost Chargeback
*Includes addition of 11 positions for cruise services, crane maintenance, and Harbormaster
**The Port intends to request an adjustment in Schedule B for BSO as a result of final
negotiations which are expected to conclude in September
11
$30,979,590
Personnel
24%
$16,152,720
Repairs,
Maintenance,
Materials &
Supplies
12%
$7,662,040
Insurance
6%
P
P O R T E V E R G L A D E
Summary
Forecasted
Operating Expenses
for FY2024
$131,124,600
S
$7,301,330
rofessional Services
5%
$38,839,230
Law Enforcement,
Security & Fire
Rescue
30%
Utilities
$6,174,690
5%
Other
$9,700,240
7%
$14,314,760
Crane
Operations
11%
12
Recommended CIP
FY2024
P O R T E V E R G L A DE S
13
/
$60,000,000
Shore Power
8%
$71,270,000
I-595 Flyover
10%
FY2024-2028 CIP Summary
$737,056,400
$25,000,000
Reserves
3%
$100,000,000
ACOE Deepening &
Widening
13%
$43,016,000
Northport Improvements
$57,200,000
6%
Crane
Improvements
8%
$78,983,400
General Infrastructure /
Miscellaneous
11%
$168,000,000
Cruise Terminal 29
23%
$133,587,000
Bulkhead
Replacement /
Improvements
18%
P O R T E V E R G L A D E S
14
(
▪ Construction is underway for the re-imaging of
Cruise Terminal 4 for the Disney Cruise Line to
begin sailing in November of 2023
▪ The anticipated final completion date for the
Southport Turning Notch Extension project,
including the delivery of 3 new Super Post-
Capital
Panamax cranes, is January 2024, and the
Projects
adjacent Phase IXA container yard is expected
in April of 2025
Update
▪ The Slip 1 Expansion project is underway to
widen the existing petroleum berth by 150 feet
➢ Private sector installing a new manifold and piping
➢ Construction for the widening phase to begin Summer
2025, with completion in 2028. Funding includes $72
million in state grants and reimbursements
P O R T E V E R G L A D E S
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Continued
▪ As mentioned, the Port recently completed a
study to add shore power to its eight cruise
Capital
terminals
Projects
▪ The Port is in preliminary discussions with
Update
Royal Caribbean to renovate Terminal 29 for
Celebrity Cruises and construct an adjacent
parking garage and new office building for
Port staff
P O R T E V E R G L A DE S
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Questions?
P O R T E V E G L A D E S
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