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Rodger Rees News

12 Oct 2023

Port of Galveston to Co-pilot Shore Power Project

© Irina Starikova / Adobe Stock

Galveston Wharves has been awarded a $1 million grant for a shore-power pilot project in partnership with Texas A&M University at Galveston to reduce emissions from cargo shipping operations.Funded by the Texas Commission on Environmental Quality (TCEQ), the pilot project will include establishing an onshore electricity microgrid to provide a clean portable power source to a docked ship as an alternative to using the ship’s diesel-fueled auxiliary engines.The project study team will evaluate the microgrid’s feasibility…

03 Aug 2021

Port of Galveston Signs LNG Bunkering Deal with Stabilis

© Jorge Luna / Adobe Stock

Galveston Wharves at Port of Galveston and Stabilis Solutions Inc. have entered into a memorandum of understanding (MOU) to facilitate the use of liquefied natural gas (LNG) as a marine fuel at the port.Under the terms of the MOU, the port and Stabilis will work together to provide turnkey LNG fueling solutions to marine vessels calling on the port, including identifying suitable dock space for shore-to-ship fueling operations, obtaining the necessary permits and approvals, identifying and educating potential customers, and executing LNG fueling events.

16 Dec 2019

Galveston Port, RCL to Develop Cruise Terminal

Miami-based cruise company Royal Caribbean Cruises Ltd. (RCL) will kick off construction of a third cruise terminal at the Port of Galveston in Texas next year.Both companies have approved a lease agreement to build a third cruise terminal at Pier 10 in Galveston with $100 million in construction cost.Through the public-private partnership, RCL will build the terminal, then lease it from the port for an initial term of 20 years, with four 10-year extension options.The two-story terminal will have a footprint of approximately 170,000 square feet on 10 acres in the eastern section of the Pier 10. Construction is expected to begin in April 2020.Anticipated to open in fall 2021…

08 Jan 2016

Port Canaveral Names Shipping Exec as New CEO

Canaveral Port Authority Commissioners today unanimously selected shipping line executive Capt. John W. Murray as the next chief executive officer of Port Canaveral. Murray currently is the President and CEO of Hapag-Lloyd USA, LLC, a global liner shipping company in Tampa that operates about 150 modern container ships and transports more than five million containers per year. “We believe our port and our community will be well served having Capt. Murray at the helm,” said Commission Chairman Jerry Allender. Allender said he hopes to have a negotiated contract with Murray on this month’s Commission meeting agenda scheduled for January 20. Outgoing CEO John E. Walsh’s last day is January 21. If necessary, Port Canaveral CFO Rodger Rees will step into the CEO role in the interim.

07 Apr 2015

Port Canaveral Receives ‘A’ Bond Rating

Photo: Port Canaveral

With $617 million in capital projects planned and under way for expansion of its cruise and cargo operations moving forward, Canaveral Port Authority has received Fitch’s  ‘A’ rating for $26.9 million of outstanding revenue bonds, series 2005 and 2006 A&B, and a rating of ‘stable’ for  all Port bonds. Fitch attributed the rating affirmation to Port Canaveral’s established operating history, recent sustained tourism-related revenue growth and the corresponding favorable operating contracts and cost management, aggressive, but flexible, capital program and no anticipated borrowing.

14 Oct 2014

Moody’s Upgrades Port Canaveral’s Bond Rating

Moody’s Investors Service has upgraded Canaveral Port Authority’s $30.2 million in outstanding revenue bonds to A2 from A3 and rated its financial outlook stable. The upgrade was attributed to low leverage, cruise growth, stable finances and proactive capital plan management. Port Canaveral’s five-year capital plan totals nearly $600 million, which will be financed with a combination of grants, matching funds, cash flow and unrestricted cash balances. The major current project is a new cruise terminal for Royal Caribbean, which is paying half of the $105 million total cost.