Financial Reports

Download JAXPORT’s 2022 Annual Report.

Total operating revenues of $61.2 million in fiscal year 2022 reflected a slight decline of 1%, compared to prior year results of $61.9 million.

Container TEUs totaled 1,298,132 in fiscal year 2022 and auto units were at 555,301 units, down 8% and 10% respectively. Container TEU declines were largely attributable to one tenant’s declining vessel and cargo business, leading to an early surrender and termination of lease agreement in mid-2022.

Auto volumes for 2022 were adversely impacted by global supply chain shortages, including computer chips and parts. However, due to fixed-lease contracts, auto revenues were down only 1%. Breakbulk tonnage volumes were up 35% over prior year to 989,058 tons, with related revenues up 42%.

Cruises returned in March 2022, after a two-year absence, with strong passenger counts (nearly 100% occupancy), adding $2.6 million in revenues compared to zero in 2021.

Steps forward in 2022 and looking ahead

In addition to the mid-year 2022 completion and formal opening of the deepened Jacksonville Harbor to 47 feet, JAXPORT took several major steps in 2022 to strengthen its current book of business and prepare for future business growth and development, including:

  • Completion of deep-water berths concurrent with the 47 ft. Harbor Deepening project
  • Site preparation for three additional tenant-provided new 100-gauge electric cranes arriving in 2023
  • Negotiated exit of tenant and transition to a new tenant (with a 20-year contract)
  • Expansion and modernization of a major container terminal beginning mid-2022 (from 77 to 93 acres), with all funding sources coming from tenant and federal grants (estimated completion date 2024)
  • Design and development of a new auto terminal, concurrent with a 30-year contract renewal, to include a total 90 acres to be developed, beginning in early 2023. All funding for construction provided by tenant and state grants (estimated completion date 2025)
  • Partnering with sister agency, Jacksonville Electric Authority, to begin design and construction of the raising of the power lines spanning the Jacksonville Harbor from a current 174 ft. operational clearance to 205 ft. This project is funded by both state and local grants, and funding from the Authority.

Rating agencies Moody’s Investors Service and Fitch Ratings currently report JAXPORT credit ratings of A2 and A, respectively, Outlook Stable for both.

Additional Links

JAXPORT FY 2022/2023 budget
JAXPORT Annual Audit Report For the Year Ended September 30, 2021
Florida Department of Financial Services
FEMA Public Assistance (PA) Program