NYK Buys Stake in NY/NJ's Largest Terminal

NYK subsidiary NYK Ports, together with Macquarie Infrastructure Partners III (MIP III), has invested in Maher Terminals, which operates a terminal in the U.S. port of New York and New Jersey. On November 16, 2016, NYK Ports acquired a 20 percent share of Maher.

 

The port of New York and New Jersey handles the most containers of any port on the East Coast of North America, and Maher is the largest terminal in the port with a handling capacity of 3 million TEUs 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 TEUs. 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.