Port Everglades forecasts 2.7 million TEUs
By 2026, Port Everglades could be handling 2.7 million twenty-foot equivalent units of containerized cargo, according to projections prepared for the port's new master plan.
Richard Heidrich, vice president of the consulting firm DMJM Harris, which has overseen the study for the new master plan, said the 2.7 million TEU mark would be the high-end estimate for container growth, based on population projections and growth in the port's various trade lanes. The port handled just under 800,000 TEUs in fiscal year 2005, the most recent year for which statistics have been completed.
The projections ranged from 2.7 million TEUs on the high end to 1.8 million TEUs on the low end, but Heidrich said the port will likely come much closer to the high end estimates. The low end numbers are based on not only conservative economic projections, but the assumption that the port will add no new services or trade lanes over the next 20 years.
Heidrich unveiled the numbers at a meeting Thursday for port stakeholders, where he and port officials gave an update on the status of the master plan. With the projections in hand for growth scenarios in ports three main markets of container, cruise, and liquid bulk shipping, officials will now begin to take a detailed look on the economic impacts each category would have on the local economy, then begin making plans for future capital improvement projects.
The master plan will include forecasts for 10 years and 20 years out, the make suggestions for a more specific five-year capital improvement program.
Port director Phillip Allen said officials would have to consider not only the actual port revenues from its customers, but the impacts each category has on the overall economy.
While petroleum tankers may generate the most port income per vessel, for example, cruise business impacts the local tourism economy, container shipping impacts retail operations, and dry bulk products like cement impact the construction industry, officials at the meeting explained.
The final master plan will probably be approved by the Broward County Commissioners by late spring or early summer.
Port Everglades forecasts 2.7 million TEUs
