$33 Million in Grants to PortMiami - Global Trade Magazine
  November 11th, 2016 | Written by

$33 Million in Grants to PortMiami

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  • PortMiami had a two-percent increase in fiscal year 2015-2016 for a total of 1.03 million TEUs.
  • $1.3 billion were invested in PortMiami to dredge shipping channel to 52 feet.
  • PortMiami grants will help support the development of a future inland intermodal facility.

On the heels of another record-breaking year for both cargo and cruise passengers, $33 million in state grants have been allocated to PortMiami over the next five years. This is another important step that will help the port better respond to the next generation of cruise and cargo business.

PortMiami had a 14-percent increase in its containerized cargo in 2014-15, and another two-percent increase in fiscal year 2015-2016 for a total of 1.03 million TEUs. Approximately 4.98 million cruise passengers sailed through PortMiami, a new world record.

The positive performance report comes as PortMiami starts to receive the bigger ships that are transiting the expanded Panama Canal. Some $1.3 billion were invested to dredge and widen PortMiami’s shipping channel to 52 feet, complete a new port tunnel to speed vehicular traffic, acquire four super postpanamax cranes and build an on-port rail link.

The port is big ship ready, and it anticipates continued growth as some of the world’s largest ocean carriers have formed alliances and deployed bigger vessels for their international shipping routes. The $33 million in state grant allocations will help fund the expansion to Cruise Terminal F into a mega- cruise facility able to process more than 5,000 cruise passengers at a time. Funds will also be utilized for the procurement of three additional super postpanamax cranes, as well as upgrades to cargo terminal yards in an effort to create efficiencies in operations for higher densities in container throughput. The grants will help support the development of a future inland intermodal facility.

“I want to thank our State and local leaders for their support in securing the $33 million in future State grant allocations for PortMiami,” said Miami-Dade Mayor Carlos A. Gimenez. “Our Port is a vital economic engine for not only Miami-Dade County, but all of South Florida and its continued growth represents thousands of jobs and increased opportunities for our community.”

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