PANYNJ Intends To Divest Ship-To-Rail Operation


News: The Port Authority of New York and New Jersey (PANYNJ) in the US is considering divesting part of its port rail network, according to unnamed agency officials familiar with the plans. This comes after the governor granted approval to a legislation that is likely to block the way the Millennium Marine Rail system in Elizabeth is financed. The divestment of the system, which is being operated jointly by the Maher and APM Terminals as part of an agreement with the PANYNJ, is likely to offer hundreds of millions of dollars to the authority, the unnamed agency officials said.

This article is tagged to:
Sector: Freight Transport, Shipping
Geography: United States