Port Canaveral $42M Financing for Facilities Expansion

Wednesday, December 22, 2010

The Canaveral Port Authority closed on a $42m loan from PNC Financial Services Group to accelerate the development of a new cruise terminal and cargo facilities. The 3.14 percent interest rate loan has a term of 13 years and with the Port’s existing debt, will enable Port Canaveral to be debt free in 2023. 
 
During its December Board meeting, the Commission voted unanimously to supplement its own revenues for the $100m expansion program in order to move forward to take advantage of low construction costs.
 
“Because of our Commission’s action, we were able to close this loan quickly to secure very advantageous terms to support future development of the Port,” said Joe Matheny, Vice Chairman of the Canaveral Port Authority Commission.”
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Iranian Port Deal: Modi's Masterstroke

Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar

DP World Launches $1.2 bln Sukuk Issue to Cover Tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed.   The issue, structured to

New Call at Port Kelang on CMA CGM’s REX 2

CMA CGM has introduced a new westbound call at Port Kelang on its REX 2 service connecting Asia with Red Sea.   CMA CGM has decided to replace its REX2 westbound Singapore call with Port Kelang.

Finance

STX Sells Lorient Shipyard

The shipbuilding group STX France has offloaded its Lorient shipyard to a naval consortium.    The shipyard, which has produced civil and naval vessels, will be purchased by Kership,

DP World Launches $1.2 bln Sukuk Issue to Cover Tender

Dubai-based ports operator DP World launched a seven-year $1.2 billion sukuk issue on Tuesday, a document from lead managers showed.   The issue, structured to

Baltic Index Falls on Weaker Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday as demand for larger vessel segments declined.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pod Propulsion Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0798 sec (13 req/sec)