Port Canaveral Unveils $500 Million Investment Strategy

Port Canaveral is investing upwards of $500 million in a plan to expand capacity and capabilities across all aspects of its business operations, the port announced in a press release.

The investment is part of the “Port Canaveral Advantage” plan, which is described as a port-wide continuous improvement program that identifies near- to long-term needs for enhancements and upgrades to the port’s assets and operations.

“Port Canaveral has been a driving force for the Central Florida economy for over seven decades, and the continued prosperity of our Port community depends on our continued success,” stated Capt. John Murray, Port Canaveral CEO.

“As we look ahead to the future, our challenge is balancing the business demands we have today while positioning ourselves for continued growth,” he added.

Within a five-year planning window, the program includes large-scale, high-value critical infrastructure projects associated with new cruise ship arrivals, modernizing and expanding cargo berths and bulkheads, and upgrading facilities maintenance.

The project also aims to deploy new technologies across a spectrum of operations and renovate the Port’s recreational facilities like Jetty Park.

“There are thousands of individuals and businesses who rely on the Port for their livelihood,” Capt. Murray said.

“These port-wide investments are designed to leverage the Port’s success to benefit communities from the Space Coast to Central Florida and throughout the state. Our goal and commitment are to always be the best port possible for our valued partners, guests, and visitors.”

Cruise-related projects are about to get underway, Port Canaveral said, including the expansion of Cruise Terminal 5 (CT-5).

The design project, awarded to BEA Architects of Miami, is reportedly increasing the terminal’s size by 65 percent to accommodate larger vessels.

During an estimated 16-month construction period, the cruise terminal would continue to operate without interrupting scheduled ship turns, the Port said.

In addition to expanding CT-5, Canaveral plans to enhance Cruise Terminal 10 to expand its capacity, beginning with a feasibility study that is expected to be completed by June 2025.

The project’s goals include expanding the terminal’s capacity to accommodate the world’s largest cruise ships, up to 5,600 passengers and berthing up to 1,200 feet in length.

Exterior upgrades at Cruise Terminal 1 will begin in May 2025 and include new canopies and walkways, updated landscaping, and new lighting to create a refreshed west entrance for cruise guests arriving at the terminal.