Port Everglades And Kings Ocean In Preliminary Agreement For Increased Service

A memorandum of understanding was signed between Port Everglades and carrier King Ocean, which will form the basis for a lease and operating agreement. The agreement was presented to the Port Authority Commission at two public hearings, May 19 and June 2, for review and recommended approval.

King Ocean de Venezuela and King Ocean Central America will provide greater weekly service from the port to Central and South America, bringing more than 200 ship calls per year and a projected 635,000 new tons of cargo to the seaport — making King Ocean the third largest carrier at Port Everglades, behind only Crowley Maritime and Sea-Land Service, Inc. The carrier will move to Port Everglades and operate from 18 acres in the port's Midport Container Terminal. The Midport acreage has become available due to the relocation of Sea- Land to Port Everglades' Southport Container Terminal. Over the agreement's five-year term, King Ocean will bring $11 million in revenue to the seaport and a total economic impact to the Broward County economy in excess of $1.2 billion. During FY '93, Port Everglades posted a 31 percent increase in container tonnage over the previous year, with 2.1 million tons passing over the seaport's docks.