APMT / Panynj agreement extended
A.P. Moller-Maersk and the Port Authority of New York and New Jersey (Panynj) have agreed to extend APM Terminals Elizabeth’s lease by 33 years, through to December 2062.
The deal, which was approved by port authority’s board of commissioners yesterday, 27 March, secures long-term operations at one of the port’s key terminals and enables major future investments.
APM Terminals Elizabeth handles over 25% of the port’s annual container throughput. Planned upgrades include berth modernisation, layout optimisation and electrification of handling equipment.
“This agreement allows us to continue supporting trade, jobs and economic growth,” said Henrik Kristensen, managing director. CEO Keith Svendsen praised the port’s leadership for its commitment to strengthening supply chains and regional prosperity. (ah)