DRPA Closing Navy Yard Cruise Terminal

CAMDEN, NJ (CBS) -- Been thinking about taking a cruise out of Philadelphia? You're about to run out of time, thanks to a decision on Wednesday by the Delaware River Port Authority.

The DRPA is getting out of the cruise business. They're cancelling a lease to operate a terminal at the Navy Yard in South Philadelphia, effective January 1st. They'll honor commitments there for the following six months, which include a couple of shows and two scheduled cruise ship departures.

Tim Pulte, the agency's chief operating officer, says the move will save almost $3 million in rent and operational costs.

"By doing this, it gets us back to our core business and also enables a major tenant to expand in that area," Pulte said.

Urban Outfitters reportedly wants the extra space for its corporate offices.

Cruising was big business for a few years -- there were actually three dozen cruises at the terminal's peak four years ago. But larger ships, a shrinking economy, and a six-hour ride to get out to sea  brought those numbers down ever since.

Reported by David Madden, KYW Newsradio 1060.