PortMiami hits record freight level, plans coffee as next big freight bill

PortMiami had its busiest cargo year in its history in fiscal 2021, when it moved more than 1.25 million twenty-foot equivalent units – a 17.6% increase from the Port’s previous record – despite continued supply chain disruptions and COVID-19 issues.

Port staff report seeing little or no congestion or vessel delays in the port’s main shipping channel, which has enabled smooth cargo operations through partnerships with the trading community, including trucking companies, terminal operators, warehousing companies, US Customs and Border Protection, the US Coast Guard and Biscayne Bay Pilots, among others.

“PortMiami’s freight performance is a reflection of the resilience of our community and the critical role our seaport plays,” said the Mayor of Miami-Dade. Daniella Levine Cava said Friday in a written statement to mark this milestone.

PortMiami may further relax its cargo capacity in the coming year. Tuesday, the Miami-Dade commissioners directed Levine Cava’s Administration and County Port Manager Juan kuryla “Pursue and maintain all available designations” to make PortMiami a high-volume coffee hub.

Last year, the global coffee market value was $ 466 billion.

“(It) is expected that there will be substantial growth in this market between 2021 and 2026, based, in part, on the growth in demand in North America,” the Commissioner’s resolution Javier Souto noted. “Although (PortMiami) is a stopover for cargo ships to and from all over the world, (it) is ideally located for the coffee trade as some of the world’s largest coffee producers are in the Americas and ( it is) a Port of the United States close to Africa, another major world producer of coffee.

Although cruise operations continue to ramp up, according to the COO of the Greater Miami Convention and Visitors Bureau Rolando Aedo, the number of passengers is still lower than pre-pandemic rates. In 2019, the global cruise industry welcomed 29.7 million passengers, creating 1.8 million jobs globally and generating $ 154 billion, according to International Association of Cruise Lines. In 2020, the number of passengers worldwide fell to just 5.8 million.

It may take up to 2023 for the industry to rebound – or even beyond, depending on the emergence of new vaccine-resistant variants of the virus, cruise expert David Selby said in September.

This makes freight all the more vital, especially for PortMiami, which has expanded its cruise partners – including Carnival Cruise Line, MSC Cruises, Norwegian Cruise Line and Virgin Voyages – up to A $ 285.5 million bailout, in which the county agreed to forgo about $ 7 million per month in otherwise guaranteed income for a period of up to two years or until full crossings resume.

The rescue plan, which the Miami-Dade commissioners approved to start retroactively in March 2020, came up with a projection that if cruise ships remained anchored after April 18, 2021, PortMiami would have to dip into its $ 114 million reserve fund to cover operating costs and debt service on outstanding bonds. circulation.

But several savings efforts, favorable financing, $ 66.9 million the ‘cruise capital of the world’ received under the American Rescue Plan Act and the port’s strong cargo performance – freight movement in fiscal 2020 declined slightly 4.8% below previous year’s levels – brought that fiscal cliff back to FY2023, PortMiami CFO Andy hecker Florida Politics said in September.


Publication displays:
70

About Glenda Wait

Check Also

Coffee giant’s sales jump but profits barely move; job vacancies reach a record high |

Starbucks records record sales as costs rise NEW YORK — Starbucks’ sales hit record highs …

Leave a Reply

Your email address will not be published.