From environmental to economic, the FHCIP offers numerous advantages. At its current depth of 45 feet, the Port and local industry’s operational partnerships raised the economic impact of the Ports current channel from $10.2 billion per year to $17.9 billion within a three year period. The new channel could do more by attracting even larger ships and this additional vessel capacity is reflected in the USACE’s estimates which place the returns on the channel investment at almost two to one. The channel will also offer many benefits to Port Freeport, including improved navigation and safety.
“The new deeper, wider channel is just a few years away. Once completed, it will offer a safer, faster transit to ships with even larger payloads – saving both time and money,” Port Commission Chairman Bill Terry said. “The economic impact and long term benefits of this project to regional liner shipping companies, along with our local chemical and energy partners can’t be overstated.”
Port Freeport’s next step will be to begin the estimated three year preliminary engineering process with the USACE and seek federal funding to deepen the Freeport Harbor Channel to a depth of 55 feet from its current 45 feet.