new york : Port Authority of New York and New Jersey “We are pleased to announce that we have outlined a significant, multifaceted investment package in partnership with U.S. Army Corps of Engineers To improve the safety and efficiency of navigation at the East Coast’s busiest container port.
These investments are intended to significantly improve the safety and efficiency of the Port of New York and New Jersey and promote the growth of a national economic hub that supports more than 500,000 local jobs and facilitates the movement of more than $200 billion worth of goods annually.
“For nearly 50 million people across several states, our port is the source of food, shoes and shelter. The port is a cornerstone of our local economy, and we’re making it even stronger with this multi-million dollar investment alongside our longtime partner, the U.S. Army Corps of Engineers,” he said. Port Commissioner Kevin O’Toole.
The joint Port Authority and U.S. Army Corps of Engineers investment includes more than $50 million from the Port Maintenance Trust Fund for port berth maintenance, dredging, rehabilitation and reconstruction.
Additionally, another $32 million project will deepen Gravesend Anchorage, outside the Kill Van Cull Channel, from a current depth of 47 feet to 50 feet. The widening will provide a place for larger ships to berth between Ambrose Anchorage in the Atlantic and the port’s container terminal.
“This partnership with the Army Corps of Engineers helps the Port of New York and New Jersey bolster its international reputation as a safe, stable and efficient commercial gateway for customers in America’s most densely populated region. These projects will enable our port to serve a region where demand for products manufactured overseas is steadily increasing. The increased levels of cargo we saw during the pandemic will return as the new normal. We, along with everyone in the supply chain, must prepare for that future now.” Commented Bethan Looney, Port Commissioner, Port Authority of New York and New Jersey;
Having berthing space wide and deep enough to accommodate the largest container ships improves the safety and efficiency of the port, allows these vessels to approach the port for inspection, refueling or in bad weather, and provides an emergency shelter in case of mechanical or navigational problems.
During the pandemic, the Port of New York and New Jersey handled cargo volumes that ranged from nearly 19% to more than 47% above pre-pandemic levels. In 2022, the Port Authority of New York and New Jersey was the nation’s busiest port for four consecutive months during the industry’s peak shipping period. Today, the Port of New York and New Jersey is the nation’s second-busiest port and a vital link in the global supply chain.
The package of waterway improvement initiatives complements the Port Authority’s investments in the port’s land access, including an ongoing $220 million project to redesign and reconstruct the Port of Newark’s northern entrance at Port Street and Corbin Street. The interchange is a vital connection to the New Jersey Turnpike and Interstate 78, providing access to one of the port’s busiest marine facilities.
Additionally, the Port Authority is investing more than $600 million to modernize its on-dock intermodal facilities that connect the port to the nation’s freight rail network, providing port stakeholders with even more flexibility.
