Port Everglades is focusing on organic growth — currently, into next year, and beyond. We are working with our customers to help them expand and grow their businesses before exploring full-scale opportunities outside. With more than $1.6 billion in planned Phase I capital investments underway, we feel secure in working with our partners to nurture their new business opportunities.
We are developing a post--pandemic Economic Development Strategic Plan, based in part on customer feedback, to create an outline for growth that is realistic and sustainable. We will help our customers thrive and survive through unpredictable, changing and potentially impactful events. The plan will be nimble to give us the leeway to make rapid tactical decisions.
Since joining Port Everglades at the end of June 2020, I have dedicated my time to speaking with our customers, the community and our internal and external workforce. Fortunately, our containerized cargo activity, which was down more than 30 percent in May 2020, has recovered to pre-pandemic levels.
Infrastructure projects focused on sustainability have been accelerated during the pandemic. Most recently, our horizon has changed with the arrival of three Super Post-Panamax container gantry cranes. We are more than halfway through excavating 2.1 million cubic yards of land to build new cargo berths and lengthen a ship turnaround area from 900 feet to 2,400 feet. We have completed a Project Partnership Agreement (PPA) with the US Army Corps of Engineers to dredge our navigation channel from 42 feet to 48–50 feet and widen a hazardous choke-point. These efforts and other smaller improvements are based on our customers’ needs to improve efficient use of their facilities, which ultimately benefits the Port’s bottom line.
I strongly believe in the prospects of our organic growth model: caring for existing customers first and the growth will follow. In addition, we will continue working on a long-term vision for existing growth though our new strategic plan.