After setting revenue records in 2018, the Galveston Wharves broke those records in fiscal 2019 with a 19% increase in revenues and a 52% increase in net income.
Net income was $12m on total revenues of $51m. The port also ended the year with unrestricted cash reserves of more than $14m.
Cruise passenger moves top 1m
Both cargo and cruise business increased, with cruise calls up 11% and passenger movements topping a record 1m.
20th year of cruise homeporting
2019 was Galveston’s 20th year as a homeport for brands including Carnival Cruise Line, Royal Caribbean Internatiomal and Disney Cruise Line.