Wednesday, July 23, 2014

PORT EVERGLADES PLANS TO DOUBLE CARGO WITH EXPANSION

PORT EVERGLADES PLANS TO DOUBLE CARGO WITH EXPANSION


This article is about one of my new favorite subjects, port expansion. This one is all about Port Everglades and their future projections post expansion. Last week a 20 year plan was approved by Broward County's board of commissioners , which is actually an update to a plan that was adopted in 2006 called Master / Vision Plan. The plan calls for an investment of $1.6 billion dollars in improvements and expansion. The return for that investment sounds impressive. In a nutshell, in 20 years they forecast doubling the cargo coming through the port and 40% more passengers from cruise ships coming through. If it sounds far fetched it should be noted that this actually has already happened in the last 20 years so from that perspective it sounds very plausible. Port Everglades is the leading port in Florida for containerized cargo now and it expects to remain so in the future but the largest growth will come from non-containerized cargo. This refers to cargo like steel, cars, and lumber and it is expected to triple by 2033. Petroleum and jet fuel cargo is also expected to increase to 376,000 barrels per day in 2033 from the current volume of 300,000 barrels today. Unlike the uncertainty surrounding the expansion at the Port of Palm Beach, Port Everglades has a sound plan in place and is moving swiftly to carry it out. I have no doubt it will be very successful and will have an amazing economic impact on the entire region. Other ports will be forced to do the same (expand) if they want to remain viable and competitive. So here is some free real estate advice to you all: buy warehouses. And when you need someone to help you find one just let me know. I will be happy to help you. As always thanks for reading and have a great day.


No comments:

Post a Comment