Published on Thursday, August 13, 2015

Seattle signs long term port deal with Norwegian

The Port of Seattle has inked a historic long term 15-year deal with Norwegian Cruise Line Holdings.

The agreement gives the port guaranteed passenger volume over the duration of the 15-year lease for NCLH ships, which includes the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas brands.

It is expected to bring in at least $73 million dollars of revenue to the port.   

"We thank Norwegian Cruise Line for their commitment to Seattle and the Alaska cruise business," said port commissioner John Creighton.  

"Cruise in Seattle means $440 million in annual economic impact for this region.  This deal means more growth, which means more jobs."

"Alaska is a favorite cruise destination for guests on all three of our brands and Seattle makes for an ideal homeport," added Frank Del Rio, CEO of Norwegian Cruise Line Holdings Ltd.

As part of the deal, Norwegian will fund upgrades of the Bell Street Cruise Terminal to the tune of about $30 million.

The 15-year commitment is expected to generate more than $2 billion in overall revenue for the region, and an extra 900 jobs.

"A 15-year lease for a cruise terminal is unprecedented on the West Coast.  Norwegian Cruise Line is showing real vision by investing in the economic growth of this region. This is a historic deal for the Port of Seattle," said Port of Seattle CEO Ted Fick.

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