King Ocean Services has reaffirmed its long-standing partnership with Broward County’s Port Everglades by extending its Marine Terminal Lease and Operating Agreement through 2035.
The Broward County Board of County Commissioners on September 4, 2025, approved King Ocean exercising both five-year option terms through September 30, 2035.
The cargo shipping line, which has operated at the port since 1994, plays a critical role in moving goods between South Florida and markets throughout the Caribbean, Central America, and South America.
The lease agreement provides King Ocean room to grow following its acquisition of Seacor Island Lines and a surge in cargo demand.
The company is expected to expand in Spring 2026 to a 40.9-acre facility under construction, located at the port’s recently completed Southport Turning Notch Extension.
With the new property addition, King Ocean’s final leasehold will total 57.8 acres within the secured port.
Franco Da Costa Gomez, Executive of King Ocean Services, said that the agreement with the port strengthens the foundation we’ve built over three decades and ensures they have the capacity to not only meet the customers’ growing demands, but to exceed them.
The deal also reflects Port Everglades’ broader economic importance. Over the next 10 years, King Ocean’s operations are projected to support annually nearly 1,900 jobs, generate $173 million in personal income, and contribute more than $17 million in state and local taxes.
In Fiscal Year 2024 (Oct. 1, 2023 to Sept. 30, 2024), King Ocean’s TEU throughput was 278,250, representing 25.60% of the port’s total throughput that year.
As part of the lease agreement, King Ocean is committing to significant capital investments including new refrigerated cargo capacity, a modern gatehouse and inspection facilities, and operational improvements that will enhance service reliability. In return, the port will provide rent credits to help offset construction costs.
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