The Port of Savannah is falling behind in the race to deepen its busy shipping channel by the end of 2014, when cargo ships too large to navigate the Savannah River are expected to begin passing through the Panama Canal, the Georgia Ports Authority’s top official said Thursday.

Port officials fear that if the project falls too far behind, companies importing and exporting goods through Savannah – the nation’s fourth busiest seaport – will start going elsewhere. State officials have long seen the port’s future tied to the Panama Canal. A major expansion expected to be completed by the end of 2014 will deepen the canal to 50 feet, allowing passage of larger ships carrying more cargo.

From Business Week