The Galveston Wharves is in talks with Royal Caribbean Group to develop a new cruise terminal at Pier 14, with a final agreement covering financing, construction and operations to go before the port’s board of trustees for approval, the port authority said.

“Royal Caribbean Group has been a great port partner since they first sailed from Galveston 25 years ago,” said Rodger Rees, Galveston Wharves port director and chief executive officer.

“As the first cruise line to build a new terminal at the port, Royal Caribbean partnered with the port to build a terminal that is not only beautiful but also receives great passenger reviews and is environmentally sustainable,” Rees said.

“We’re excited to be included in the company’s expansion plans and will be honored to receive the Icon of the Seas, one of the boldest and most exciting cruise ships sailing today.”

On Aug. 25, the board voted to defer a nonbinding memorandum of understanding outlining preliminary terms, giving staff more time to negotiate.

Royal Caribbean Group and the port previously built a $125 million cruise terminal complex at Pier 10 in 2022 through a similar public-private partnership, adding a terminal, pier improvements, parking and roadways.

Galveston’s cruise industry supports more than 4,547 jobs and generates $733 million in business revenue, $291 million in personal income and $25 million in state and local taxes each year, according to the port.

A separate economic impact study found a fifth terminal would add 1,500 jobs, $278 million in business revenue, $91.5 million in personal income and $7.9 million in state and local taxes.