Nippon Yusen Kaisha (NYK) and Macquarie are taking a 20% stake in Maher Terminals, a company that operates a terminal in the port of New York and New Jersey.
Maher is the largest terminal in the port with a handling capacity of 3m teu annually. After construction to raise the Bayonne Bridge’s clearance is completed in late 2017, the terminal will be able to accommodate containerships carrying up to 14,000 teu.
Growth in demand is anticipated as traffic bound for the East Coast through the Suez Canal rises as manufacturing’ shifts from China to South East Asia, and as larger ships destined for the East Coast make use of the expanded Panama Canal,” NYK said in a release.
