Canaveral Port Authority CEO Capt. John Murray delivered his annual State of the Port address this week, providing a comprehensive review of the Port’s strong 2025 performance with an outlook for continued business growth in the new fiscal year., according to a press release.

Total earned revenues in Fiscal Year 2025, which ended September 30, were $218 million with the Port’s cruise business accounting for $182 million, cargo $25 million, and non-ship operations at $11 million.

“Our business growth and solid financial performance is building value that will pay dividends for years to come,” Murray said. “We’re a leader in our industry, but our continued success rests on the foundation of strategic planning, continuous improvement, and sound investments in our infrastructure.”

On the cruise side, the Port hosted 1,038 ship calls with a record 8.6 multi-day passenger movements; a 13 percent increase over the previous year.

Murray noted that in April 2025, the Port reached a historic milestone of 100 million passenger movements since the Scandinavian Sea began sailing in 1982 from its Port Canaveral home.

The Port continues to be an economic powerhouse in the Central Florida region with 27 percent of cruise passengers overnighting in a local hotel which equates to 2.3 million total Brevard County room nights annually and a 200-percent increase in new hotel construction in nearby City of Cape Canaveral alone over the past decade.

“We have an increasing responsibility to drive economic value in our region. Our growth is boosting the local economy with increased business investments in Port District communities that are creating new jobs and a growing tax base of revenues for local municipalities,” Murray stated.

Looking forward, the Port is expecting another robust year with $237.4 million total projected revenues for FY ’26 with cruise business growing to 18 homeported ships generating nine million multi-day passenger movements across 1,083 ship calls.

A host of planned renovation and improvement projects amounting to $255 million capital improvement projects scheduled in the new fiscal year alone to meet the needs of the Port’s growing number of customers. The Port’s five-year Capital Improvement Plan now stands at $912 million, up from just over $500 million less than two years ago.

Projects include creating 4,500 additional parking spaces in new terminal garages and surface lots and expanding terminal facilities including nearly doubling the size of the Port’s Cruise Terminal 5 and Cruise Terminal 10 to accommodate the arrival of new homeporting vessels in 2027.