GALVESTON — The Port of Galveston’s governing board unanimously approved a new contract Monday with Carnival Cruise Lines, which means a big bump in revenue for the docks and includes plans to heavily advertise the historic seaport city.
The new contract, which reflects the homeporting of a third Carnival vessel, also extends the cruise line’s commitment to the island by five years to December 2022 with an option for one six-year renewal period. Carnival’s current contract was set to expire in September 2017.
Under the contract approved by the seven-member Wharves Board of Trustees, the port will receive minimum revenue of about $2.1 million from Carnival operations in the first year — beginning June 1 — and about $3.6 million for each subsequent operating year. The current operating agreement, which dates back to 2002 and has been amended twice, called for a $575,000 yearly minimum.
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