The Galveston Wharves has reported preliminary revenues of $67.4 million in 2023 and a net operating income of $24.5 million, according to a press release.

This represents the highest revenue and net operating income in the port’s history.

This translates to a 27.5 percent increase in revenue and 55.4 percent increase in net operating income compared to the previous year.

Following a record-setting 2023, the port’s 2024 budget forecasts  operating revenues of $72.5 million, operating expenses of $35.5 million and a net income of $37 million.

Rodger Rees, Galveston Wharves port director and CEO, said: “Record revenues allow the port to fund major expansion and maintenance projects to maximize port assets, generating regional economic growth and more jobs.”

The port’s unaudited 2023 performance highlights include:

• 3.6 million tons of cargo
• 1,490,532 cruise passenger embarkations, a 43.1 percent increase over the prior year
• 210,665 cruise-related cars parked, a 46.4 percent increase over the prior year
• Improvements to Cruise Terminal 25
• Arrival of the Carnival Jubilee in December of 2023
• Awarding of $42.3 million in state funds for major cargo and transportation projects
• $1,684,093 in payments to the city of Galveston.

In addition, the port’s Finance Department has been awarded a national certificate of excellence for the Annual Comprehensive Financial Report (ACFR) for fiscal year 2022, the 30th consecutive year that the port has earned the honor.

“Without the continued hard work and dedication of an exceptional team, it would be difficult to achieve this honor. The award is testament to the port’s dedication to fiscal responsibility and sound financial management,” said Rees.