Day: July 6, 2020

PortMiami renegotiates terminal deals, local workers brace for more cruise-less months

Just last November, PortMiami was bustling with construction workers bringing to life five new cruise terminals and two cruise company headquarters. Future cruise business was all but guaranteed: Fiscal year 2020 was set to break the port’s 2019 record of 6.8 million passengers, up 22 percent from 2018.

The county agreed to pay $700 million toward the projects, and the cruise companies — Carnival Corporation, Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings, MSC Cruises and Virgin Voyages — agreed to repay the county $5.8 billion over the next 20 to 62 years.

In November, port director Juan Kuryla described the deals as “iron clad.” When asked by the Herald what would happen to the promised return on investment if for some reason cruise ships were only half full or if the ships did not to come to Miami at all, Kuryla said the companies would still be on

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