The SPA wants the channel deepened to 50 feet, so that post-Panamax ships can come and go without relying on the tides.
The difference from the current depth, 5 feet, may not sound like much, but getting there could take, according to the Army Corps, between 10 and 13 years.
The agreement set for signing this morning will begin a feasibility study phase that should last five to eight years, the Army Corps estimates, so long as the federal government continues to provide necessary funding.
Ports up and down the eastern seaboard, and in the Gulf of Mexico, are all scrambling to deepen their shipping lanes, and in some cases build higher bridges, in order to handle the larger ships.