Wednesday, November 23, 2016
Weinberg Elected Chairman
of Canaveral Port Authority

Loyd and Harvey Formally Installed as Port Commissioners
(L-R) Tom Weinberg; Wayne Justice; Jerry Allender; Micah Loyd; and Bob Harvey
During the November Commission meeting, Board members unanimously selected Tom Weinberg to serve as Chairman of the Canaveral Port Authority after newly elected Micah Loyd and Bob Harvey formally were sworn in to begin their terms.
 
Elected in 2010 and re-elected in 2014, Chairman Weinberg is a fourth-generation Brevardian elected from District 5. His career included positions as Chief of Staff for former U.S. Senator Mel Martinez and Deputy County Administrator for Orange County, Florida. Currently, he is a Director of Fidelity Bank of Florida headquartered in Merritt Island. Mr. Weinberg also holds a Florida real estate license.

For the upcoming year, Wayne Justice will serve as Vice Chairman of the Commission. He was elected to the Commission representing District 3 for a term beginning in January 2015. Vice Chairman Justice is a maritime consultant, who retired as a two-star Admiral after a 37-year career in the U.S. Coast Guard.
 
Selected as Secretary/Treasurer, Jerry Allender was elected from District 1 to the Port Authority Board in August 2010 for a term beginning in January 2011. The Titusville resident is an attorney with his own firm. He also previously served as a Port Commissioner from 1983 to 1994.
 
New Port Commissioner Micah Loyd is a Titusville resident elected from District 2. He is a Certified General Contractor and second-generation owner of Loyd Contracting, Inc. In addition to his service on the Port Authority Board, he also sits on the North Brevard Economic Development Zone Board.
 
Cocoa resident Bob Harvey was elected from District 4. The new Port Commissioner served 33 years in the United States Army and Air Force as a fighter pilot and combat veteran. He retired as a Colonel and is a published author and airline pilot.
Finance Department Presented with 25th Consecutive Annual Award for Financial Reporting Excellence
(L-R) Pat Poston, Sr. Director, Finance; Rodger Rees, Deputy Executive Director & Chief Financial Officer; Diana Mims-Reid, Controller and Jerry Allender, Port Commission Secretary/Treasurer
At the November Commission meeting, Secretary/Treasurer Jerry Allender presented the Finance Department with its 25th consecutive award for financial reporting excellence. The Certificate of Achievement for Excellence in Financial Reporting, bestowed by the Government Finance Officers Association of the United States and Canada, is the highest form of recognition in the area of governmental accounting and financial reporting.

The award is for the Port Authority’s comprehensive annual financial report (CAFR), which was judged by an impartial panel to meet a series of high standards, including demonstrating a “spirit of full disclosure” and clear communication of its financial story to potential users and user groups.

CFO Rodger Rees commented, “I have been in the financial side of business for almost 40 years and have never had the opportunity to serve with a more talented and dedicated group of professionals. With implementation of a new port-wide software program under way, the pressure is on our team to maintain our award-winning financial reporting. If any group is up to the challenge, it is this group of individuals."

The Finance department is comprised of employees in Finance, Purchasing, and Risk Management.
 Port Sets Record and Welcomes Two New Homeported Ships  
Port Authority welcome ceremony for Norwegian Epic.
The Port hosted a record-breaking 35 cruise ship turns between November 1 and 13, including the maiden voyages of two new homeported ships that are among the largest in the world — 4,100-passenger Norwegian Epic and Royal Caribbean International’s 7,144-passenger Oasis of the Seas.

During the weekend of November 12-13, traditional maritime plaque and key Ceremonies onboard the two new ships introduced community leaders to the arrivals and Port-hosted Sail-a-brations in Jetty Park gave the community and local families the opportunity to have fun, celebrate and wish these majestic ships bon voyage.
Port Authority welcome ceremony for Royal Caribbean Oasis of the Seas.
Fitch and Moody’s Assign High Ratings to Port Bonds
Stable Outlook Affirmed
Moody's Investors Service has assigned an A2 rating and Fitch Ratings Inc. has assigned its A rating to new bond series that the Canaveral Port Authority has issued. Both services reaffirmed their high ratings on several outstanding Port revenue bond series and gave the Port a rating outlook of Stable.

The excellent ratings are due primarily to the Port's established competitive position as the second-largest cruise port in the United States. Fitch pointed out that the Port’s “cruise traffic has remained resilient through periods of declining discretionary spending” while Moody’s commented that although the cruise segment is “the main driver of its financial performance,” the Port’s smaller cargo business “supports revenue diversification and currently is benefiting from improving economic conditions in Florida.” Both agencies considered favorably the long-term minimum annual guarantee revenue contracts with cruise and shipping lines, representing around 60 percent of the Port's operating revenue.

Moody’s added that “the port's financial policy is sound and management has a demonstrated track record of scaling back capital expenditures to preserve adequate financial metrics.” In reference to the Port’s capital program, Fitch stated that “larger near-term projects focus on the expansion and modernization of existing cruise terminals, which Fitch believes is essential in maintaining current cruise contracts in a competitive east coast port environment.”

According to Port Deputy Executive Director and Chief Financial Officer Rodger Rees, “These excellent stable bond ratings enable the Port Authority to continue to access the financial markets on a favorable basis, allowing us to provide the infrastructure needed to service and maintain our customers.”
  Ground Transportation Upgrades Progressing Well
Transponders for the new commercial transportation billing system are in operation and tracking registered vehicles at Cruise Terminal 1. North-side terminal tolling zone construction is on track for completion by January 1. The billing software interface to the Port’s financial system is in the implementation phase and is expected to be fully operational by the time the north side transponders are live in January.

The self-service online system for registration is in use and new provider applications have increased significantly. As of November 16, there were about 450 registered commercial transportation vendors. Based on violation warnings issued so far, Port staff estimates that more than 21 percent of commercial operators in the Port previously were unpermitted.

New transportation agents are patrolling to ensure enforcement of the new regulations. They spent the first few weeks ensuring everyone understood the rules and had sufficient opportunity to comply.
(L-R) Alex Tardy, Dustin Radford, Reginald Oswald, Steven Furry, and Robert Owens
  Propeller Club Hosts
State of the Port Update

The Propeller Club Port Canaveral invited CEO John Murray to address its members and the public with a State of the Port update during the October meeting, which was held in Cruise Terminal 6.
 
Murray delivered a comprehensive overview of the Port’s accomplishments during the past year and plans for the future.

“We are the second busiest cruise port in the world — a strategic standing in a competitive business that we work hard to maintain,” he said. “Globally, our cargo capabilities are less well known, but we have the industry knowledge and financial strength to carefully grow this business.”
  Port Canaveral CEO John Murray
  Port and Community Survive Matthew with Limited Losses
Hurricane Matthew brought high winds and rain, but left behind minimal damage at Port Canaveral, which was able to re-open fully within 24 hours of the storm’s passing after damage assessment and repairs. The swift re-opening was accomplished by a hard-working team of Port staff, the Brevard County Sheriff's Office, Canaveral Fire Rescue, the U.S. Coast Guard, Port tenants and contractors.
 
“We are fortunate that our cruise terminals, cargo piers, and infrastructure remained intact and ready to support our customers," said Port CEO John Murray.
 
Assessments showed Port Canaveral harbor was navigable with no obstructions, although Bill Crowe, Senior Director of Facilities, Construction and Engineering, said initial estimates indicate there was about 200,000 cubic yards of storm-related sand deposition at the outer edges of the main harbor entrance.
 
There also was some damage to awnings and signs; roofs at cruise terminals, warehouses and other structures; and along State Road 401. Jetty Park campground re-opened November 1 after some post-storm debris cleanup. The Jetty Park fishing pier remains closed with repairs to commence in late November.
 
Several Cove restaurants and the Pavilion at Jetty Park experienced damage that required temporary closings.
 
To assist the community with recovery from Hurricane Matthew, the Port Authority provided the American Red Cross with 90,000 square feet of space in the new Port Canaveral Logistics Center at Titusville to store and distribute relief supplies to those who needed assistance in the aftermath of the storm. The supplies were positioned to help Central Florida, but were not needed locally. Instead, they were used in areas that were harder hit.
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Port Canaveral
The Gateway To Central Florida