Galveston Wharves, Norwegian Cruise Line Holdings Sign Long-Term Agreement

Galveston, TX (WEDNESDAY, OCT. 16, 2024) - It's official! Galveston Wharves and Norwegian Cruise Line Holdings Ltd. (NCLH) executives have executed a long-term agreement for NCLH ships to sail from the port's newest cruise terminal when it opens in November 2025.

Participating in the signing were Rodger Rees, Galveston Wharves port director and CEO, and Dan Farkas, NCLH executive vice president, general counsel, chief development officer and assistant secretary. The ceremony was held at the Galveston Economic Development Partnership annual summit on Oct. 16.

During comments to a crowd of more than 300 attendees, Rees said, "They say 'Build it and they will come.' We're honored that this leading global cruise company is expanding its offerings in Texas, sailing from our new cruise terminal."

Farkas added, "Galveston is a key hub for NCLH. We recognize the strategic importance of this city, not just for its prime location but for the warmth and hospitality of the people here. This long-term partnership is a promise to grow alongside Galveston, to invest in its future, and to bring world-class cruise experiences through our award-winning cruise brands-Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises."

After limited sailings from Galveston the last two years, NCLH will expand its offerings from the nation's fourth busiest cruise port and only cruise port in Texas. NCLH, the world's third largest cruise line, has committed to a 10-year contract with renewal options well into the future at the new $156 million cruise terminal complex.

After three years of seasonal sailings, NCLH will homeport at the terminal full time. Starting with Norwegian Prima and Norwegian Viva, the company's newest state-of-the-art ships, sailings to Western Caribbean itineraries will begin in November 2025.

The Galveston Wharves Board of Trustees unanimously approved the contract at a special meeting on Tuesday, Oct. 15. This is the second major cruise line to commit to homeport at Cruise Terminal 16.

Galveston Cruise Growth

The port broke ground in August to convert an existing cargo warehouse into the port's fourth cruise terminal. The cruise complex at Pier 16 will include a 165,000-square-foot terminal and a $55 million parking garage.

With the opening of the new terminal, Rees added that he expects the port to reach more than 2 million passengers a year beginning in 2026, which would be a new milestone in Galveston's 24 years as a cruise home port.

Regional Economic Benefits

The local impact of the port's cruise activity in 2023 included 4,547 jobs, $732.5 million in local business revenues and $25.3 million in state and local taxes. Each cruise generates about $2.3 million in business revenue in the local economy.

The fourth cruise terminal is forecast to generate an additional 925 jobs and $177 million in local business revenue annually. The city of Galveston will benefit directly with passenger and parking fees, as well as sales tax revenues from cruise parking.

About the Port of Galveston

Located at the entrance to Galveston Bay and the Houston Ship Channel, the Port of Galveston has been a thriving maritime commercial center since 1825. Just 45 minutes from open seas, the 840-acre port has infrastructure and assets to serve growing cruise, cargo and commercial businesses.

In addition to its growing cruise business, the port leases and maintains a wide range of cargo facilities on the deep-water Galveston Harbor, which is ranked among the top 40 busiest U.S. cargo waterways. The port is investing more than $90 million in its West Port Cargo Complex to improve and expand its cargo-related infrastructure.

The Galveston Wharves is a self-sustaining city entity whose mission is to generate and reinvest port revenues to benefit the Galveston community with economic growth, jobs and sales tax revenues.

About Norwegian Cruise Line Holdings Ltd.

Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company that operates Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. With a combined fleet of 32 ships and approximately 66,500 berths, NCLH offers itineraries to approximately 700 destinations worldwide. NCLH expects to add 13 additional ships across its three brands through 2036, which will add approximately 41,000 berths to its fleet. To learn more, visit www.nclhltd.com.

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