Financial Reports

Download JAXPORT’s 2024 Annual Report.

Total operating revenues for fiscal year 2024 were $70 million, a 7% increase over prior year revenues of $65.7 million. Total container volumes in 2024 were 1,340,412 TEUs (twenty-foot equivalent units), a 2% increase over fiscal year 2023 TEUs of 1,313,487.

Two major terminal construction projects continued into fiscal year 2024. The first is the ongoing expansion and modernization of a 93-acre container terminal, designed to handle increasing international cargo volumes at newly constructed deep-water berths, with completion anticipated in April 2025. The second project is the construction of a new 88-acre auto processing facility, which began construction in early 2023, scheduled for completion in late 2025.

Auto volumes totaled 509,061 in 2024 compared to 505,665 in 2023. Auto-related revenues for fiscal year 2024 were $15 million, up 3% over 2023 revenues of $14.6 million in 2023. The cruise business was a standout segment in 2024, with a record 206,720 passengers and revenues of $7.3 million, up from $6.5 million a year ago. Also noteworthy, was Military cargo and related revenues totaling $1.8 million in 2024, a 30% increase over 2023.

2024 Year in Review and Looking Ahead

JAXPORT continued to make significant progress on the aforementioned major construction projects which will pave the way for future growth and increased cargo volumes. In addition, other highlights in fiscal year 2024 include the following:

  • Execution of a long-term 30-year Facilities Lease Agreement with Enstructure for the lease and development of 79-acres of waterfront property at the current Southeast Toyota Distributors (SET) property, upon SET relocation to the Blount Island Marine Terminal.
  • Execution of a contract with Norwegian Cruise Lines (NCL). A 3-year contract with three 2-year renewal options, with sailings on NCL’s passenger ship commencing in Fall 2025. The agreement calls for 26 annual sailings on a 5-4-4 rotation, sailing to the Bahamas during the period November through April.
  • The purchase of three predominately state-funded 50-gauge gantry cranes, designated for Blount Island (2) and the Talleyrand Marine Terminal (1). All three cranes are under construction at year end 2024, with delivery dates expected in late calendar year 2025 and mid-2026.
  • Purchase of the Dames Point Terminal assets in November 2023, at a nominal net price of approximately $5 million. This purchase allows JAXPORT’s outright management of the 158-acre terminal, previously under contract through 2042. A partial allocation of the terminal continues under contract as a container terminal, with JAXPORT now able to parcel out approximately 100 acres of developed waterfront space for diverse uses.
  • Partnering with sister agency, Jacksonville Electric Authority (JEA), to design and facilitate construction of the raising of the power lines spanning the Jacksonville Harbor from an operational clearance of 175ft to 205ft.

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

As exhibited in the financial statements, JAXPORT continues to strive for disciplined fiscal stewardship, focused on maintaining strong cash balances, controlling expenses and managing its conservative debt profile.

Additional Links

JAXPORT FY 2024/2025 budget
JAXPORT Annual Audit Report For the Year Ended September 30, 2024
Florida Department of Financial Services
Florida Ports Council 2023-2024  Seaport Mission Plan
Compliance with Section 189.0694, F.S. – Special Districts