Major projects at Port of Miami and Port Everglades in Fort Lauderdale, coupled with the $5.2 billion expansion of the Panama Canal, position ports along Florida’s East Coast for significant increases in containerized cargo, particularly from China and the Far East.
Eighty percent of FEC’s business is handling containers at PortMiami, Port Everglades and the Port of Palm Beach, where it has exclusive rail contracts, according to its website.
FEC already handles 10 percent of the cargo traffic at PortMiami and Port Everglades, FEC President and CEO James Hertwig told Progressive Railroading magazine in an interview. Once major projects at those ports are completed and work on the Panama Canal is done, in 2016, he said, he hopes FEC’s share will grow to as much as 30 percent.
Unloading just one of the new, larger ships that will come through the Panama Canal would increase FEC’s volume by 18 percent, according to Hertwig.
Major projects will mean more cargo coming into Port Miami and Port Everglades:
• Panama Canal expansion: A $5.2 billion project, adding one new lock at end of the canal and deepening the main channel. Completion 2016
• Port Miami: $50 million to build an intermodal yard at the port and repair an access bridge, completed; $663 million for two 4,200-foot tunnels, carrying traffic underwater from the MacArthur Causeway to the port, scheduled to open this month; $150 million to deepen the port to 50 feet from 42 feet to accommodate larger ships, completion 2015.
• Port Everglades: $53 million for an on-port intermodal transfer facility, completion this summer
Rosenberg, Arnie (2014, May 18)Arnie Rosenberg, FEC eyes potential increase in cargo from South Florida ports Scripps Treasure Coast Newspapers Retrieved from: http://www.tcpalm.com/news/2014/may/18/fec-eyes-potential-increase-in-cargo-from-south/