Crowley Liner Services plans to expand its container operations at Port Everglades under a new 10-year lease on its container terminal that calls for additional acreage and increased container guarantees.
The Broward County Commission, which governs the port, approved the lease Tuesday. The lease contains two options to renew for additional five-year terms.
The terms of the new lease call for increasing Crowley's terminal from 68.2 to 80 acres. Guaranteed container moves will begin at 110,000 in 2011, increase to 112,000 in 2012, and increase by 1,000 annually thereafter on each Jan. 1 through 2020.
Under the new agreement Crowley's first-year guarantee represents nearly 96 percent of the port’s container volume in fiscal year 2010.
Crowley is No. 16 on The JOC Top 40 Container Lines.
Crowley operates Port Everglades’ largest container terminal, which handles its services to Central America and the Caribbean, including the Bahamas, the Dominican Republic, Haiti and Jamaica, but not Puerto Rico, which it serves from Jacksonville. It also handles U.S.-government-licensed shipments to Cuba of food and humanitarian assistance at its terminal in Port Everglades.
“We’ve tripled our cargo business at Port Everglades over the last 20 years,” said Crowley spokesman Mark Miller.
“This agreement gives us fertile ground for more expansion and new business development,” he said.
Crowley's economic impact through the port could increase by 9 percent over the term of this agreement, based on guaranteed volume increases. A port study estimated that the company supports 31,983 jobs and generates personal income of $1.1 billion, plus state and local taxes of about $80.1 million.
-- Contact Peter T. Leach at email@example.com.