JAXPORT inks 18-year agreement with Puerto Rican trade partner

JAXPORT reaffirmed its connections to Puerto Rican trade with a new 18-year lease agreement extension between the Port and Trailer Bridge. Jacksonville is the top mainland port for trade with Puerto Rico, dealing with nearly 90% of all sea trade between it and the mainland.

Trailer Bridge, generating around $2.5 million per year at the Port, conducts twice-weekly barge service between Puerto Rico and Jacksonville.

“Puerto Rico has been critical to our success as we’ve grown into one of the nation’s top seaports for the import and export of goods,” JAXPORT Board Chairwoman Wendy Hamilton said at the Port’s meeting Monday. “As we look to the future, this partnership helps ensure we can continue to build on our role as a leader in providing supply-chain security to the island.”

Representatives from Trailer Bridge and the Puerto Rico Ports Authority were on hand for the contract extension.

“We appreciate your commitment to our city and the people of Puerto Rico,” Hamilton said.

Trailer Bridge began operating at JAXPORT in 1991 and its latest contract, for 10 years, was set to expire in October 2023. The new agreement will take the contract out to January 2041 and is similar to one the company has in Puerto Rico.

“The lease includes 33.9 acres and calls for a minimum annual guarantee of 500,000 short-tons (per year),” said Linda Williams, JAXPORT Chief of Administration and Corporate Performance. “JAXPORT will generate approximately $62 million over the life of the contract in minimum revenue.”

The Board voted unanimously to approve the new agreement.