PANYNJ

PANYNJ reaches landmark agreement on lease extension for APM Terminals Elizabeth

The Port Authority of New York and New Jersey (PANYNJ) and A.P. Moller – Maersk today announced they had reached a landmark 33-year lease extension for APM Terminals Elizabeth, the port’s second-largest container terminal.

This agreement includes major investments and capacity enhancements by APM Terminals at the container terminal, setting a new framework for container terminal agreements and further strengthening the East Coast’s busiest port to meet rising cargo demand.

APM Terminals lease...

https://www.marinelog.com/inland-coastal/ports-terminals/panynj-reaches-landmark-agreement-on-lease-extension-for-apm-terminals-elizabeth/

Maersk and Port of New York and New Jersey Agree on 33-Year Lease Extension

Danish A.P. Moller – Maersk and the Port Authority of New York and New Jersey (PANYNJ) will continue their long-lasting partnership well into the second half of the 21st century. The two companies agreed to extend the lease of the APM Terminals Elizabeth’s lease by 33 years through December 2062....

https://gcaptain.com/maersk-and-port-of-new-york-and-new-jersey-agree-on-33-year-lease-extension/

3 C’s see Port of New York and New Jersey through 2020

It’s been a year like no other for everyone everywhere, and resiliency has been a word used perhaps more in 2020 than any other year. It’s a fitting word for U.S. ports, which saw huge numbers of canceled sailings when factories shut down in China and then record import surges when manufacturing restarted and supply chains were rebooted. 

“As our industry navigates the ongoing economic and market impacts of COVID-19, which now includes record cargo volume, we must be resilient facing and...

https://s29755.pcdn.co/news/3-cs-see-port-of-new-york-and-new-jersey-through-2020

Ocean cargo ‘lone bright spot’ for Port Authority of NY/NJ

The Port of New York and New Jersey reported Thursday that it was continuing its recovery to 2019 levels and had surpassed its all-time monthly volume record. 

The port said it handled 720,969 twenty-foot equivalent units (TEUs) in September, a 15.4% increase from the 624,961 TEUs moved in the same month last year. From Jan. 1 to Sept. 30, the port handled 5,382,422 TEUs.

A statement from the port attributed September’s volume record to U.S. retailers stocking up for the holiday season as well as...

https://www.freightwaves.com/news/ocean-cargo-lone-bright-spot-for-port-authority-of-nynj

Port Authority of New York and New Jersey performance worst ever

The Port Authority of New York and New Jersey (PANYNJ) did not sugarcoat the news. The headline on its press release read: “COVID-19-RELATED VOLUME DECLINE CAUSES SINGLE WORST QUARTER ON RECORD.”

Between March, when the full force of the coronavirus pandemic hit the New York area, and the end of June, the port authority’s revenue miss totaled nearly $800 million — about $200 million per month below budget. 

PANYNJ Chairman Kevin O’Toole called it “an unprecedented number.” 

“This region has been...

https://s29755.pcdn.co/news/port-authority-of-new-york-and-new-jersey-performance-worst-ever