Port of Galveston, Royal Caribbean Sign MOU for Terminal

The Board of Trustees of the Galveston Wharves formally announced on Dec. 5 that it has entered into a Memorandum of Understanding (MOU) with Royal Caribbean Cruises Ltd. setting out the general terms for a new long-term business agreement for the development and operation of a new cruise terminal. The long-term lease negotiations could lead to a 60-year transaction: a 20-year initial term and four 10-year options....

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