PHOENIX - The U.S. Army Corps of Engineers has released a draft feasibility report on a project to make the Port of Seattle one of North America's deepest harbors and ensure it can handle the large container ships necessary to keep it economically competitive.
The corps released its draft report on the estimated roughly $83 million project Tuesday, and opened a public comment period. The federally authorized project aims to dredge the waterways in the harbor to make the depth 57 feet, as the current depths in some areas of the port are as shallow as 34 feet and unable to handle the larger cargo vessels using the expanded Panama Canal. The report was based on a newer generation of truly enormous ships that need more than 53 feet of water to safely enter a port.
"The Port of Seattle, part of The Northwest Seaport Alliance, is a strategic gateway for goods entering the US and vital for Northwest exports," said Port of Seattle Commission president and The Northwest Seaport Alliance co-chair John Creighton.
"Large ships with deep drafts are being deployed globally and on the West Coast," said Port of Tacoma Commission president and The Northwest Seaport Alliance co-chair Connie Bacon. "Authorization of a depth of 57' will preserve our gateway's ability to provide sufficient depth for the future fleet of ships."
The report estimates that the more efficient transfer of goods through the port will provide a national net benefit of some $95 million over 10 years. The Northwest Seaport Alliance, a union between the ports of Seattle and Tacoma, said that the Corps considered alternatives and reached a target goal that will maximize economic effectiveness.
The Port of Seattle is one of the largest issuers in the Northwest, and had $2.7 billion of outstanding revenue bonds and commercial paper as of the end of 2015. Comments of the corps' draft feasibility report will be accepted through the end of August, the Seaport Alliance said.
