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Last week, the Los Angeles Harbor Commission approved $7.5 million for the final phase of the Port of Los Angeles' main channel deepening project.

The port is deepening its main navigational channels and basins to a 53-foot depth to ensure it can accommodate container ships of all sizes in the future. The final phase calls for removing  dredge surcharge material and completing a shallow water habitat in the outer harbor. The overall 15-year, $370 million project is slated for completion in early 2013.

"Channel deepening has been our single-most important infrastructure priority," said Port of Los Angeles Executive Director Geraldine Knatz in a prepared statement. "Channel depth and state-of-the-art facilities are critical components of our superior logistics."

The port's nine container terminal tenants rely on deep channels to move cargo. Container terminals generate about 74 percent of the port's annual revenue.