Jaxport Begins Decade of Development
March 3, 2008

When Rick Ferrin was asked at Jacksonville’s annual state-of-the-port presentation what he would request if granted three wishes, the port’s executive director replied: deeper channels, more land and complete intermodal connections, including road, rail and short-sea.

In delivering the presentation to the Jacksonville Propeller Club, Ferrin and his team of industry veterans presented a positive report on what Ferrin called the future decade of development at the sprawling port.

Ferrin promised that the port’s planned development is designed to be an economic engine that does not damage neighboring residential areas while generating new customers and expansion for existing business. Within 10 years, he said, the port would double regional port-related employment to 100,000 and increase the port’s direct and indirect economic impact from $3 billion to $6 billion as new terminals open.

The port is building a 160-acre container terminal for MOL, scheduled to open in 2008, and an adjoining terminal for Hanjin Shipping Co., scheduled to open by 2011.

He said the two companies will triple the port’s container throughput by 2011. They will also increase services to and from Europe and South America, because the terminals will handle transshipments from Asia.

Jaxport handled more than 8 million tons of cargo last year, including more than 700,000 containers and 600,000 vehicles.

Ferrin said Jaxport aims to become the third-largest port on the East Coast by winning the dredging sweepstakes and offering 46 to 50 feet of draft for the post-Panamax ships that would begin to transit the expanded Panama Canal in 2015.

He said he is confident that his financial and political staff can secure the permits and funding to complete the planned 45-foot dredging sweep and secure a second round of funding to achieve 50-foot depths in the channel and at the berths.

Tim Murphy, Jaxport’s senior director for engineering and construction, said the project could cost up to $1 billion.