All growth is based on logical progression on the 520 acre island, while maintaining economic sustainability and growing the port business and brands. Master Plan 2035 was commissioned by the Port and produced by Bermello Ajamil & Partners, a local architectural and engineering firm that is known world wide for its expertise in this field.<\/p>\n
Consultant Martin and Associates was commissioned to analyse cargo patterns.<\/p>\n
A combination of commercial assessments and logistical analysis, the 124-page report sketches probable scenarios from known and assumed factors. A model voyage from Asia to four Florida ports is worked out, based on a 4,800 teu vessel offloading 800 containers at each port. Twenty one variables affecting the voyage cost are included plus vehicle delivery costs.<\/p>\n
Container holding capacity is based on a threshold of 8,000 teu per acre, after which new land will be needed. Just when is dependant on cruise ship traffic and will be in either 2023 or 2030.<\/p>\n
Crucial to the cargo future and handling capacity is an assumption of an average of 40 teu moves an hour and an overall utilisation rate of 2,000 hours a year for each crane. The teu moves could become a more distant prospect than anticipated, taking into consideration the far busier and more experienced US West Coast’s average of about 30.<\/p>\n
Florida’s low-lying geography is noted, with the possibility of a rise in sea level of 0.45 metres over the next 50 years. The US Geological Survey classes the coastline at Miami a high risk area and the master plan recommends that part of the land at the port should be raised by 0.76 metres.<\/p>\n
Total capital expenditure is forecast to be $1.7bn, with cargo taking up just over $1bn, cruise terminals $350m and property and other expenditure the rest. Gross revenue in 2035 is estimated at $450m a year, of which the cruise division will bring in $200m and cargo $150m.<\/p>\n
Cargo’s gross revenue per foot of berth is expected to peak at $13,000 in 2032, declining slightly thereafter, while cruising will rise steadily to $23,000 in 2035.<\/p>\n
On an Initial Rate of Return basis, cargo is the worst performer. Gross revenue per acre is topped by commercial property at almost $6m in 2035, with cruise at $1.5m and cargo at $400,000.<\/p>\n
Says a senior port official: “Cargo is generally a subsidised activity at ports, so it tends to have a low on-port return. However, the inland economic impact of cargo is quite substantial ($16bn cargo; $2bn cruise), so we invest heavily in it. The commercial land development IRR looks good, in part, because we are planning public-private partnerships to cover the capital costs. This third source of revenue will, in fact, help pull the weight of cargo.”<\/p>\n","protected":false},"excerpt":{"rendered":"
PortMiami\u2019s Master Plan 2035 is based on long term economic forecasts and trends for both cargo and cruise operations, and considers the physical aspects of the current built existing conditions.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[41],"tags":[],"sponsor":[],"class_list":["post-3553","post","type-post","status-publish","format-standard","hentry","category-bulk-handling"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/comments?post=3553"}],"version-history":[{"count":0,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/posts\/3553\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/media?parent=3553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/categories?post=3553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/tags?post=3553"},{"taxonomy":"sponsor","embeddable":true,"href":"https:\/\/www.portstrategy.com\/coastlink\/wp-json\/wp\/v2\/sponsor?post=3553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}