Everglades Company Terminal, Inc. (ECT) has finalized a 10-year Marine Terminal Lease and Operating Agreement with Broward County, reinforcing Port Everglades’ role as a key economic contributor in South Florida. The Broward County Board of County Commissioners approved this long-term agreement, which allows Everglades Terminal Company, a subsidiary of Mediterranean Shipping Company (MSC), to lease a 39.18-acre terminal in the port’s Southport cargo area. This agreement is effective until December 31, 2034, with options for two five-year extensions.
This new lease replaces one previously held by MSC since 2004. “This agreement with ECT and the continuity provided by its terminal operator Port Everglades Terminal, LLC, further strengthens our position as a vital global gateway for trade,” said Joseph Morris, CEO and Port Director of Port Everglades.
Economic analysts from Martin Associates project that ECT’s operations under the new lease will generate over $161 million annually in business service revenue within the region. The operations are expected to maintain 425 direct jobs and contribute around $10.5 million in state and local taxes during the first year based on an estimated 85,000 container moves. These figures are anticipated to grow significantly over time.
“As a stevedoring and terminal services company, we are committed to providing superior services for our shipping customers and the local community that relies on the goods that move through our terminal,” stated Rick Blackmore, CEO of Port Everglades Terminal, LLC.
Additionally, the agreement includes transferring permanent leasehold improvements made by Port Everglades Terminal to Port Everglades itself. These improvements encompass an office building, Rubber-Tired Gantry pads, refrigerated racks for storing 450 stacked reefers, and an inspection dock equipped with shore power infrastructure for 116 refrigerated shipping containers.
