The Port of New York & New Jersey today announced completion of the port’s $2.1 billion Main Navigation Channel Deepening Program, in partnership with the U.S. Army Corps of Engineers. The program constitutes a major milestone in the port’s ongoing efforts to retain and augment its position as the premiere port of the North American East Coast. The Port of New York and New Jersey serves as the gateway to one of the most concentrated and affluent consumer markets in the world. The Main Navigation Channel Deepening Program creates a safe and economically efficient pathway for the newest generation of container ships calling the PortRead More →

On:
In: Capital Investments, Cargo Volumes, Environmental Initiatives, Events, Industry News/Advisory

The Port Authority of New York and New Jersey announced on Monday April 11, 2016 that it would undertake a comprehensive review of the Port of New York and New Jersey’s more than 3,000 acres of cargo facilities to better evaluate and plan for future growth, improve operations, and enhance revenue plus opportunities for job creation. The agency simultaneously issued a publicly advertised Request for Proposals (RFP 45736) as part of its search for a planning consultant to develop a long-range Maritime Master Plan to guide the port’s future growth and development over the next 25 to 30 years. The Port of NY & NJRead More →

On:
In: Capital Investments, Econ Insight, Events

On December 10, the Board of Commissioners for the Port Authority of New York and New Jersey approved the agency’s operating and capital budget for fiscal year 2016, worth a combined $6.5 billion. Allocations include $3 billion for the agency’s Operating Budget and $3.5 billion for its Capital Budget. Of particular note for the Port of New York and New Jersey: $8 million from the Operating Budget is slated for future planning, including a Port Commerce master plan to optimize land use, and operation of an agency wide operations center for enhanced system wide trans-Hudson transportation management. $952 million from the Capital Budget is slatedRead More →

On:
In: Capital Investments

On Thursday, November 12, 2015, the Port Authority announced the launch of its new Agency Operations Center (AOC) at the Port Authority Technical Center in Jersey City. The AOC will help to achieve a key agency objective of enhancing the regional transportation network for goods and people. Traveler safety will be increased and congestion will be reduced by increasing the efficiency of operations and incident responses across the Port Authority’s entire cross-Hudson transportation network. Working around-the-clock, AOC staff will use camera feeds, travel-time detectors, and other equipment to monitor traffic of vehicles and passengers at all Port Authority facilities in real time. Monitored facilities includeRead More →

On:
In: Capital Investments
GCT Bayonne

On Thursday, October 22, the Port Authority Board of Commissioners approved an agreement that will allow construction to proceed on a major ship-to-rail facility adjacent to Global Container Terminal (GCT) in Bayonne. GCT will build, operate, and maintain the new ExpressRail Port Jersey facility in Greenville Yard. ExpressRail Port Jersey is slated to open in 2018. The facility will promote more efficient and environmentally friendly movement of cargo. The Port Authority will pay GCT up to $56 million to cover construction costs. The agency will cover this funding via the Cargo Facility Charge, a per-container fee assessed on cargo shipped through the Port of NewRead More →

On:
In: Capital Investments