Is Port Canaveral Back in Full Business?
Melbourne, Fla.—Port Canaveral may still be recovering from the big hit caused by the pandemic, with a standstill order that paralyzed the cruise industry for about ten months, the cargo segment of the business was able to remain more stable.
While cruise took a dive, the port saw a record year for cargo and its third-best year ever for non-ship revenue such as admission fees to Jetty Park and the Exploration Tower. Cargo bested 2018′s previous record high by just over a $1 million, ending up with more than $11.1 million from 5.2 million tons. Non-ship revenue ended up with just over $13.2 million, only shy of 2020′s nearly $13.4 million and 2019′s record of more than $15.3 million.
A federal lifeline though came over the summer in the form $72 million from the American Rescue Plan Act, and the port applied nearly $18 million of that to the 2021 budget to offset a need to dip into its reserves, like it had to do in 2020.
FY 2022 is projected to get the port back on pace to break the revenue record set in 2019.
Melbourne Truck Insurance is committed to support trucking and transportation businesses in the Palm Bay, Port Canaveral area, providing insurance options that combine the right coverage at the right price, helping small to medium sized companies succeed and stay afloat even in adverse conditions.
Florida Owners and operators of commercial trucks can't get by with a standard commercial auto insurance policy. In addition to protecting the cargo that they carry, truckers must consider the massive physical damage that can be caused by their trucks, the potential environmental issues an accident could cause, and the expensive cost to repair their large vehicles. On the other hand, general contractors, local contractors, and subcontractors are commonly required to carry commercial truck insurance by various laws and businesses they work for.
The coverage your business need depends on the type of business you are in and the perceived risk associated with it. For example, a landscaping contractor will need more coverage than a real estate agent or business consultant. Your business location is also another factor that comes into play. For example, some states (like Florida) tend to award more in damages to plaintiffs claiming personal injury than others.
When you get your insurance through Melbourne Truck Insurance you can expect:
Practical and accurate information about your insurance policy and your insurance company from local specialists.
Whether you need to make a policy change, have a question about billing or need to report a claim our customer service representatives are the best in the business and will expedite your request professionally.
Contact one of our local commercial/truck insurance agents from Melbourne Truck Insurance to find out what options are available for your trucking and transportation business in the Palm Bay area, and help you start saving on the protections needed. We have the products and underwriting experience that meet the insurance needs of your business. Call us at (321) 329-5556.
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