Maersk and the Port Authority of New York and New Jersey (PANYNJ) have agreed to extend APM Terminals Elizabeth’s lease through December 2062.
The deal was originally set to expire in 2029, but the lease extension marks a significant milestone in the company’s partnership with the US port, which dates back over a century.
The 33-year lease extension paves the way for major infrastructure investments, which will enhance capacity and transport velocity, create jobs and strengthen the US economy,...