FUNDING PORT PROJECTS: WATER RESOURCES DEVELOPMENT ACT 2024

2024-07-26T19:22:27+00:00July 26th, 2024|Freight Market, Freight Talk, Industry Spotlight|
WATER RESOURCES DEVELOPMENT ACT 2024, Port of Baltimore, Port of Oakland, harbor projects
PORT PROJECTS IN BALTIMORE AND OAKLAND PROPOSED

On Monday, the House of Representatives approved by a vote of 359 to 13 the Water Resources Development Act of 2024 (WRDA). This legislation will help fund navigational projects at the ports of Baltimore and Oakland. It allocates approximately $4.8 billion for projects, including widening and deepening the Baltimore harbor and widening Oakland’s turning basin.

On May 22, 2024, the Senate’s Environmental and Public Works Committee approved their version of the bill, which now awaits a vote from the entire body. If the Senate bill is approved, President Biden will receive a draft to sign into law.

WATER RESOURCES DEVELOPMENT ACT 2024 PROPOSED ALLOCATIONS

If approved, the U.S. Army Corps of Engineers can start deepening the West Seagirt Branch Channel to its authorized 50-foot depth and widening the Seagirt Loop Channel by an average of 760 feet. The expected cost of these projects is $63.9 million. The estimated cost of the Oakland project to extend the turning basin of the port and deepen it to 50 feet is close to $609 million.

Both initiatives seek to decrease ship idling, which lowers emissions, and increase vessel safety when navigating through harbors.

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