The Port Authority of New York & New Jersey has announced that it had record cargo volumes in 2011, surpassing the previous record set in 2007. The 5.5m TEUs handled in 2011 represented a nearly 4% increase over 2010's volumes.
"These records demonstrate that despite these challenging economic times our commitment to establishing stronger import/export trade relations, retaining and attracting the highest quality operators and investing in state-of-the-art facilities with the latest technology is working," said Port Authority Chairman David Samson. "Over the coming years we will continue to make significant investments in our port related infrastructure—$1bn for Raising the Roadway of the Bayonne Bridge, as well as port roadway improvements, harbor deepening and Express Rail—to ensure our continued status as an industry leader and primary source of jobs and economic activity for the region."
In December 2011, the Board authorized a $39m investment to design and reconstruct a section of Corbin Street along with the wharf and culvert at Berth 3 in Port Newark. This followed action to widen McLester Street in the Elizabeth-Port Authority Marine Terminal, and to widen and realign Port Street and Brewster Road.
Additionally, work continued on the 50 ft harbor deepening project, which is expected be completed to the terminals in Port Newark, Elizabeth and Port Jersey by the end of 2012 and to New York Container Terminal by 2014.
The Port Authority continues engineering and design work on the plan to raise the roadbed of the Bayonne Bridge to accommodate new, larger post-Panamax vessels traveling to and from port terminals. Currently, the bridge's navigational clearance cannot accommodate the largest of these ships, which are expected to serve the port when the Panama Canal widening is complete. The agency has committed $1bn toward this project.
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