Major Carrier Acquires NY-NJ Terminal Share

 17 Nov 2016     Carriers, Containers, Finance, Tenders & Bids, Global Economy/Trade, Going Places, Mega Ship Ready, Politics, Ports, Shipping

On November 16, 2016 NYK Ports, a subsidiary of NYK, alongside Macquarie Infrastructure Partners III, have announced its ownership of a 20% share in Maher Terminals, which own a terminal in the Port of New York and New Jersey in the US.

The Maher terminal is the largest at the Port of New York and New Jersey, and following the completion of the Bayonne Bridge project, it will be ‘mega-ship ready’, able to handle 14,000 TEU capacity container ships.

The port itself has the largest container throughput of any east coast port in the US, and considering the anticipated increase in traffic from the Suez Canal, the expanded Panama Canal allowing more free movement of shipments, and major carriers increasingly announcing new US services, the port is only expected to get busier.

In fact, an alliance which includes a fellow subsidiary of NYK, NYK Line has announced new services, including one specifically for the Middle East, connecting Dammam, Jubai and the Persian Gulf to South East Asia and China.

There will also be 16 trans-pacific trade routes and six North Atlantic routes connecting Northern Europe and the Mediterranean to Canada and the America; the alliance will control 21% of the Asia-Europe trade routes and 29% of the trans-pacific trade routes but these are set to increase to 35% and 40% respectfully.