APM Terminals to invest USD 70 million to ready Port Elizabeth terminal for future trade

By Curious

Investment will enable one of the largest ports in the USA to receive increased loads arriving from larger vessels travelling via the Panama Canal.

The Port of New York and New Jersey is the largest port on the US East Coast and third largest in the United States with 6.37 million TEU handled in 2015. Beginning in 2014, The Port Authority of New York and New Jersey has committed to a ten year, agency-wide capital investment campaign for transportation infrastructure. Over USD 200 billion in cargo value moves through the port that serves one of the most attractive consumer markets in the United States with a population of 20 million located within three hours of the port.

APM TerminalsPort Elizabeth facility is one of the largest container terminals in the port complex, handling over 2,100 trucks a day, 4000 terminal gate transactions and more than 500 vessel calls per year. The current capacity of 1.5 million TEU will be expanded to 2.3 million TEU.

APM Terminals CEO Kim Fejfer said: “We are an infrastructure leader and our investment in Port Elizabeth will ensure a state-of-the-art port that serves as a business generator between the United States and other economies. We have developed strong relationships with clients, the port community and business leaders necessary to confidently expand our presence and invest for the future.”

APM Terminals to invest USD 70 million to ready Port Elizabeth terminal for future trade

APM Terminals' Port Elizabeth facility - Image courtesy: APM Terminals

Wim Lagaay, President of APM Terminals North America added: “We applaud the Port Authority of New York and New Jersey and the Port Department who have been instrumental in deepening the harbor, heightening the Bayonne Bridge and listening to the changing needs of terminal operators and customers. We have shared our vision to create a container terminal capable of ushering in the new era of ultra-large container vessels and to serve more sophisticated customer needs. Our investment in a new berth capable of handling 13,000 TEU vessels will help Port Elizabeth become even more competitive and represents the first in a series of modernization initiatives to ensure our end user experience is truly industry-leading.”

Molly Campbell, Director of the Port Department for the Port Authority of New York and New Jersey said: “APM Terminals is an important service provider at the Port of New York and New Jersey. As one of the original container terminal operators at our Port we welcome APM Terminals continued investment in order to ensure that we remain a key gateway for the next generation of cargo ships. Modernizing our port infrastructure is critical to our regional economy’s continued competitiveness.”

APM Terminals will issue a private tender for construction of the berth in the fall of 2016.

Source: APM Terminals