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Panama expansion boon to NY/NJ
01 Sep 2007
The Port Authority of New York & New Jersey (PANYNJ) has confirmed its plans to remain at the forefront of the Eastern US cargo marketplace as the Panama Canal expansion takes shape.
Port Commerce Department director Admiral Rick Larrabee, whose division oversees a behemoth with a 2006 throughput of roughly 5m teu, said: “When the bigger ships come through, we will be ready. Direct calls of vessels at the PANYNJ will be possible – as trade flows shift, we are looking for big incremental growth from Middle and Northern China.”
In emphasising a ‘systems’ approach, Adm Larrabee added: “Our landside infrastructure will also be ready. For example, our Expressrail terminal system of three on-dock rail terminals, serving Staten Island, Port Newark and Port Elizabeth, will be able to handle two trains – each two miles long – simultaneously.”
PANYNJ Capital Plan calls for expenditures of nearly $2bn during 2007-2016, which will include deepening to 50ft (from the present 45ft), but also important improvements to the railway and road infrastructures.
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