JAXPORT finished 2020 on a relatively high note considering the significant impact the coronavirus pandemic had on the global economy throughout much of the year.
We maintained uninterrupted cargo service throughout the pandemic—keeping cargo moving and people working—a testament to the dedication of our employees, port partners, service providers and Northeast Florida’s entire maritime
Download JAXPORT’s 2020 Annual Report.
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Despite the global impacts from the COVID-19 pandemic in 2020, JAXPORT kept operating revenue steady at $64 million—down just 6% from 2019—which was a record year for JAXPORT’s revenue.
The port’s diverse mix of business and strong expense management helped keep operating income stable.
JAXPORT’s operating expenses were $37 million in FY20, generating operating income of $27 million.
During its 2020 review, Moody’s Investors Service affirmed JAXPORT’s ‘A2 Stable’ credit rating, citing the port’s diversity of business, stable revenue, favorable long-term cargo market growth outlook, and manageable debt. Later in the year, Fitch Ratings affirmed its long-term ‘A Stable’ rating on JAXPORT’s $129.8 million in outstanding revenue bonds, citing the port’s strategic location, intermodal and infrastructure connectivity, growing automobile and container activity, and diverse revenue base.
Fiscal year highlights:
- More than 1.277 million TEUs (containers) moved through JAXPORT, down just 5% from 2019, which was a record year for container volumes at the port.
- Nearly 560,000 total vehicles moved through JAXPORT, maintaining our role as one of the nation’s top vehicle-handling ports. An increase in U.S. military vehicle movements at the port helped to offset the temporary industry-wide decline in commercial shipments caused by the coronavirus.
- JAXPORT’s Puerto Rican business was up 6%, with more than 802,000 TEUs moved.
- The U.S. Department of Transportation awarded JAXPORT a $20 million grant that will expedite yard improvements at the SSA Jacksonville Container Terminal.
Over the last 10 years, a billion dollars has been invested in JAXPORT—everything from navigational improvements in the harbor to new environmentally friendly container cranes, electrified berths and increased rail capability. These investments have laid the foundation for JAXPORT to build on its role as Northeast Florida’s economic engine.
JAXPORT FY 2020/2021 budget
JAXPORT Audit Report For the Year Ended September 30, 2020
Florida Department of Financial Services