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Keyword: portmiami

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  • PortMiami wants $285M in COVID rent breaks for cruise lines as debt pressures grow

    10/20/2020 12:44:30 PM PDT · by Capt. Tom · 23 replies
    Miami Herald ^ | Oct. 20, 2020 | Douglas Hanks
    Faced with a crippled cruise industry as a one-time cash cow, PortMiami wants to slash required rent payments for ships and hope business picks up in time to cover debt payments for an ongoing expansion. Once federal regulators lift the existing “no sail” order on cruises, cruise lines would resume rental fees for ships, but not have to meet minimum payments. Kuryla said the agreements were tailored to keep Miami poised to remain the top cruise port once ships begin filling up again, and reduce berthing costs enough for companies to consider leaving the port with vessels at a fraction...