Steep reductions in containership sailings over the next several months due to the ongoing coronavirus pandemic have many U.S. marine terminal operators wondering how they are going to afford their annual lease payments to port authorities.
The country’s nearly 100 large and small container terminals are on some of the priciest industrial property. According to industry experts, terminal operators in the Port of New York and New Jersey annually spend about $90,000 per acre as port authority...
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