Feature, Freight News, Sea

APM Extends Elizabeth Terminal Lease 33 Years

[ April 3, 2025   //   Gary Burrows ]

The Port Authority of New York and New Jersey, or PANYNJ, on March 27 approved a lease extension for A.P. Moller – Maersk’s APM Terminals Elizabeth lease through December 2062, Maersk reported.

Originally set to expire in 2029, the 33-year lease extension marks a significant milestone in the company’s relationship with the port, which dates back more than a century. The extension paves the way for major infrastructure investments to enhance capacity and transport velocity.

APM Terminals Elizabeth handles more than 25 percent of PANYNJ’s annual container throughput, or about 400,000 containers in 2024. APM Terminals has invested in infrastructure and equipment, including an additional investment of US$200 million to modernize the terminal.

“This lease extension will be another milestone for APM Terminals, which moved record volumes for the port in 2024,” said Henrik Kristensen, managing director, APM Terminals Elizabeth. “Working side-by-side with the ILA [International Longshoremen’s Association], the extension will allow us to continue our investment in the terminal to support jobs and the growth of the local economy for many years to come.”

APM Terminals envisions a larger, more efficient container terminal, and is committed to significant future investments to enhance the capacity and efficiency for its customers. Planned upgrades include the optimization of the terminal layout, electrification of container handling equipment, and future-proofing container berths.

“This lease extension secures transformative infrastructure and capacity enhancements at the second-largest container terminal in the East Coast’s busiest port,” said Port Authority Executive Director Rick Cotton. “These commitments will enable the Port of New York and New Jersey to move more goods, create more jobs, and further cement its role as an essential driver of our region’s economy and our nation’s supply chain.”

A.P. Moller – Maersk has had close ties with the PANYNJ for more than a century, making its first vessel call in New York in 1915 and opening its first international office in Manhattan shortly after. Maersk Line was started in 1928, and the piers in Brooklyn became home. By 1975, Maersk established its first dedicated container terminal with PANYNJ at Pier 51.

Tags: APM Terminals Elizabeth, Maersk, PANYNJ