PortMiami's Deep Dredge project will deepen the Port’s existing channel from its current 42-foot depth to minus 50-52’ in preparation for the Panama Canal Expansion, scheduled for completion in 2015. The Deep Dredge will make PortMiami the only U.S. port south of Norfolk that can accommodate the new, mega cargo vessels that will pass through the expanded Panama Canal.
The deepening of Miami’s channel will create 33,000 new jobs, double cargo throughput, and increase PortMiami’s annual economic impact to more than $34 billion. Located in the heart of downtown Miami, PortMiami is the second largest revenue producing department in Miami-Dade County. PortMiami contributes nearly $27 billion annually to the local and state economies and supports 270,000 jobs, both directly and indirectly, in the State of Florida. PortMiami is recognized and known for being the Cargo Gateway of the Americas.
Due to PortMiami’s ideal geographic location, the world’s largest shipping lines offer regular service from PortMiami to more than 100 countries in more than 250 ports around the world. Over $2 billion in capital improvement projects, including on-port railway restoration and the Port Tunnel, are transforming Miami and the State of Florida into a global logistics hub.
PortMiami will be one of only three U.S. Atlantic ports to be at -50 feet when the expanded Panama Canal opens in 2015. The deeper depth will allow PortMiami to accommodate new, larger Post-Panamax vessels that will be traversing the Canal. As the closest U.S. port to Panama, PortMiami expects to benefit from increased Asian trade. The Army Corps of Engineers recently completed the construction bid process for the project, and work is slated to begin in the summer of 2013.