For the Gemini alliance, the twin port of New York/New Jersey is one of the hubs in the network. Møller-Maersk secures a long-term terminal concession.
A.P. Møller-Maersk and the Port of New York and New Jersey have reached an agreement to extend the lease for the APM Elizabeth terminal. The concession extends until 2062.
Originally, the lease would have expired in 2029. The 33-year contract extension will be accompanied by extensive infrastructure investments to increase capacity and transportation speed, create jobs and strengthen the US economy, according to a statement.
APM Terminals Elizabeth currently handles more than 25% of the annual container throughput at the New York/New Jersey port complex. “The extension will be another milestone for APM Terminals after handling record volumes for the port in 2024,” said Henrik Kristensen, managing director of APM Terminals Elizabeth.
