Global Port Holding to revamp and expand San Juan Cruise Port through $350M investment
Miami, Florida, April 9, 2024—Key highlights of the San Juan Cruise Port (“SJCP”) project were unveiled at this year’s Seatrade Cruise Global event by Global Ports Holding, the world’s largest cruise port operator.
SJCP is now managing cruise port operaFons and will commence its mulF-million-dollar plan to repair, rebuild, and upgrade its infrastructure in accordance with its Public-Private Partnership Agreement with the Puerto Rico Ports Authority (“PRPA”). The operaFonal handover marks the beginning of a transformaFve journey to enhance and elevate San Juan’s posiFon in the Caribbean cruise market.
Port investment
While San Juan Cruise Port is a popular homeport and transit port, significant investment in its infrastructure is needed to ensure conFnued operaFons and to meet the needs of the fast-growing cruise industry.
As per the terms of the 30-year concession agreement, GPH has paid the Puerto Rico Ports Authority an upfront concession fee of $75M. During the iniFal investment phase, GPH will invest approximately $100M, primarily focused on criFcal infrastructure repairs at Pier 4 and Pan American Piers I and II, in addiFon to upgrades to the terminal buildings and the passenger walkway.
GPH will also modernize the port experience for cruise passengers, cruise lines, and local vendors and will use its global experFse and operaFng model to improve port operaFons management, technology, security, and sustainability efforts. The port will also be integrated into Old San Juan and Puerto Rico’s thriving tourism sector, creaFng significant opportuniFes for local businesses to benefit directly from the improved faciliFes and the anFcipated growth in cruise passenger volumes.
The second investment phase will commence subject to pre-determined criteria, including cruise passenger volumes recovering to pre-pandemic levels. In this phase, GPH will invest an esFmated $250M in expanding the capacity of the port by building a new cruise pier and state-of-the-art homeport terminal at Piers 11 and 12 to handle the world’s largest cruise ships.
Network expansion
The addiFon of San Juan Cruise Port is a significant development in the strategic expansion plan of Global Ports Holding in the Caribbean. San Juan Cruise Port, which welcomed 1.8 million unique passengers in 2019 (including 400,000 homeport passengers, represenFng 2.2 million passenger movements), is the third-largest cruise port in the GPH network.
Global Ports Holding Chairman & CEO, Mehmet Kutman, said:
“We are delighted to welcome San Juan Cruise Port into the world’s largest cruise port network. In addiFon to being a fantasFc desFnaFon, San Juan is a strategically important port that is perfectly posiFoned to play a pivotal role in Eastern and Southern Caribbean iFneraries as a homeport for decades to come.
We are excited to have started operaFons, as San Juan conFnues to welcome record numbers of cruisers and look forward to delivering on our plans to bring the iconic San Juan Cruise Port to its righdul leadership posiFon in the Caribbean cruise industry for the benefit of all Puerto Ricans.
We remain dedicated to expanding our presence and impact in the region and to exploring new opportuniFes for growth and collaboraFon in the Caribbean.”
San Juan Cruise Port President, Jan Fomferra, said:
“Our investment in this port will see hundreds of millions of dollars poured into the development and expansion of San Juan Cruise Port which will transform the port infrastructure, significantly improve the cruise port experience for passengers, and create greater opportuniFes for local businesses to benefit from the anFcipated growth in passenger volumes.
We look forward to delivering a world-class cruise port that will benefit Puerto Rico and the enFre region, boosFng the economies of the enFre Caribbean cruise industry for many years to come.”
San Juan Cruise Port General Manager, Federico González-Denton said:
“This is a dream come true. Aeer so many years in the industry making recommendaFons about how to improve the port at San Juan, we finally have the opportunity to do something about it. The investment being made by GPH to revamp the port will propel San Juan to a whole new level as it prepares to welcome an ever-growing number of passengers.”
About Global Ports Holding Plc
Global Ports Holding Plc (GPH) is the world’s largest cruise port operator with an established presence in the Caribbean, Mediterranean, and Asia-Pacific regions. Established in 2004 as an independent cruise port operator, GPH holds a unique posiFon in the cruise port landscape as the world’s leading cruise port brand. GPH operates 32 cruise ports in 19 countries, providing services for over 20 million cruise passengers annually. The group also provides commercial port operaFons, specializing in container, bulk, and general cargo handling.
