APM Terminals to invest USD 70 million in Port Elizabeth terminal for future trade
Aug 31, 2016: APM Terminals will invest USD 70 Million in Port Elizabeth terminal, to receive increased loads arriving from larger vessels travelling via the Panama Canal.
The Port Authority of New York and New Jersey manages Port Newark, the Elizabeth-Port Authority Marine Terminal, the Howland Hook Marine Terminal, the Brooklyn-Port Authority Marine Terminal, the Red Hook Container Terminal, and the Port Jersey Port Authority Marine Terminal.
Wim Lagaay, president of APM Terminals North America, said, “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 modernisation initiatives to ensure our end user experience is truly industry-leading.”
In 2014, The Port Authority of New York and New Jersey committed to a ten year, agency-wide capital investment campaign for transportation infrastructure.
Over $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.
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. Modernising our port infrastructure is critical to our regional economy’s continued competitiveness.”
APM Terminals’ Port 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 will issue a private tender for construction of the berth in the fall of 2016.