MSC has cemented its presence at US east coast gateway Port Everglades, yesterday signing a 10-year lease renewal for its local terminal operating subsidiary, Everglades Company Terminal.
The 10-year Marine Terminal Lease and Operating Agreement was signed with local municipal authority and port owner Broward County and covers the 39.18-acre terminal in the port’s Southport area.
The agreement runs until 31 December 2034, with two optional five-year extensions, and replaces a previous lease held since 2004 by MSC.
“This agreement with ECT and the continuity provided by its terminal operator, Port Everglades Terminal, further strengthens our position as a vital global gateway for trade,” said Joseph Morris, CEO and port director of Port Everglades.
According to the eeSea liner database, MSC, the world’s largest liner operator has four services calling at Port Everglades: two feeder services to the Bahamas; a US-South America east coast intra-regional service; and the transatlantic NEUSEC service.
According to economic analysts at Martin Associates, ECT’s operations under the new lease are expected to generate more than $161m in revenue each year in the region, employ 425 staff; and contribute approximately $10.5m in state and local taxes in its first year, based on 85,000 container moves.
“These numbers are expected to grow substantially over the life of the agreement,” Broward County officials added.
“As a stevedoring and terminal services company, we are committed to providing the superior services for our shipping customers and the local community that relies on the goods that move through our terminal,” said Rick Blackmore, CEO of Port Everglades Terminal.
The new agreement also transfers permanent leasehold improvements made by Port Everglades Terminal to Port Everglades, including an office building, yard crane gantry pads, refrigerated racks for 450 reefers, and an inspection dock that has shore power infrastructure for 116 reefers.
According to eeSea data, Port Everglades four terminals handled a combined 1.12m teu in 2024, representing a utilisation level of 87% on a total capacity of 1.29m teu.
