The third largest terminal in the New York harbor unveiled plans Wednesday to spend $500 million to more than double the number of containers it can handle in the Newark port, a sign of the steadily rising traffic through New Jersey’s ports.
Port Newark Container Terminal (PNCT) said it has signed a restructured, 20-year lease that will increase its presence in the port from about 225 acres to more than 300 acres, said Michael F. Hassing, president and CEO of Ports America, which co-owns the terminal.
The expansion will create 350 construction jobs and boost the company’s onsite workforce from just over 1,000 to 1,450, he said. By 2030, the terminal will be able to handle 1.1 million containers-a-year, compared to 414,000 today, he said.
Governor Christie, in a morning press conference at the terminal, said the expansion is a sign of the state’s commitment, and that of the Port Authority of New York and New Jersey, to “make this a modern 21st century facility that will be the leader in receiving cargo from around the world.”
“The port is the single most important engine for New Jersey’s continued economic growth and development and creating jobs,” Christie said. “As the port grows and thrives, New Jersey will grow and thrive.”
The expansion comes amid several moves by the Port Authority, along with shifts global trading patterns, that are expected to boost port traffic through New Jersey’s ports.
They include the expansion of the Panama Canal, scheduled to be completed by 2014. In addition, dredging underway in the New York Harbor and the raising of the Bayonne Bridge will enable New Jersey’s ports to handle larger ships.
State and Port Authority officials say continued investment upgrades are needed to help the New York harbor ports – most of which are in New Jersey – remain the third largest in the nation, handling about 30 percent of the cargo on the East Coast.
Hassing said the company, which leases the terminal from the Port Authority, has sought unsuccessfully to expand in recent years, but finally managed to reach an agreement with the authority from a “sense of urgency.”
The company is growing faster than port traffic as a whole, as clients demand more and more container handling capacity, he said.
“We have simply outgrown the facility,” he said. “We basically have 100 percent utilization now. We are totally full.”
The expansion, of which $50 million will be spent in the next few months, will mean the demolition of warehouses, already underway, Hassing said. That will make space for more container handling facilities and equipment, such as longer and larger crane rails, ship-to-shore cranes and mobile container handling equipment.
“We are confident this terminal investment and expansion will enable PNCT to deliver the safest and the best service in the port,” he said.
BY HUGH R. MORLEY (northjersey)
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