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As part of its recent initiatives to position the Port of New York and New Jersey for

future economic growth, the Port Authority today announced the acquisition of additional

prime waterfront property – the 98-acre Global Terminal on the Port Jersey peninsula in

Jersey City and Bayonne.


Coupled with the Port Authority’s previous transaction in 2007 to change the use of the

adjacent Northeast Auto Terminal lease to allow for container handling, today’s

agreement will lead to the expansion of the Global Container Terminal to 170 acres,

which will assist in handling future cargo growth. The expanded Global Container

Terminal will become part of the Port Jersey-Port Authority Marine Terminal facility.

Earlier this week, the Port Authority also agreed to purchase a significant portion of the

Military Ocean Terminal at Bayonne for future, long-term port use.


Despite the global economic decline in recent years, the Port Authority remains confident

that the shipping industry will rebound and come back strong, and the agency will make

certain it has the capacity to meet future demand as the busiest port on the East Coast of

North America.


The Port Authority remains committed to its port facilities in Elizabeth, Newark and

Staten Island, including continued investments in the on-dock rail system and the 50-foot

channel-deepening program.


Port Authority Chairman Anthony R. Coscia said, “The Global acquisition is good for the

port and good for the region’s economy. It gives us the key waterfront property we need

to expand, and will support even more middle-class jobs at our maritime facilities.”

Port Authority Executive Director Chris Ward said, “This strategic acquisition was a long

time in the making and positions the Port of New York and New Jersey for future

economic growth.”


Port Authority Deputy Executive Director Bill Baroni said, “This investment furthers our

strategy to ensure that the existing port terminals continue to thrive while acquiring prime

waterfront land to guarantee the port’s future success. Our vision includes expanding the

port beyond its current boundaries, finding a cost-effective solution to the clearance issue

at the Bayonne Bridge, and developing the underused Greenville Yards to remove trucks

from New Jersey highways.”


Under the Global agreement, the Port Authority takes over ownership of the Global

property and, in turn, reaches a 37-year lease agreement with Global under which the

terminal operator will develop the former Northeast Auto Terminal property into one new

container terminal known as the Global Container Terminal as part of the Port Jersey-

Port Authority Marine Terminal facility. Global, which is owned by the Ontario

Teachers Pension Plan, will then handle the day-to-day cargo operation on the much

larger footprint.


The lease agreement calls for revenue sharing on containers handled by Global on the

170-acre combined facility and staged rental payments as the terminal is developed over

time. In addition, the Port Authority will provide Global with up to $150 million to

develop and construct new container terminal space. The Port Authority also has agreed

to develop a rail facility on the adjacent Greenville property that could handle up to

250,000 containers per year.


In addition, the New Jersey Turnpike is redesigning the 14A interchange to handle

projected port traffic as the Global terminal expands over time.


The Global acquisition and development will relieve the State of New Jersey from a $150

million financial obligation to the federal government to cover the cost of the 50-foot

channel-deepening project in the Port Jersey Channel.


Global currently employs approximately 350 workers at its existing terminal. It is still

undetermined how many workers will be hired to operate the additional cargo container



Another important piece of the port’s long-term strategy was achieved last month when

the Port Authority’s Board of Commissioners authorized the agency to move ahead with

the purchase and redevelopment of Greenville Yards, a century-old rail yard in Jersey

City, N.J. The facility will serve as the lynchpin to removing up to 360,000 trash trucks

annually from trans-Hudson crossings and New Jersey highways by moving New York

City’s sealed containerized solid waste and other commodities by barge and rail when the

facility is opened in 2013.



The Port Authority of New York and New Jersey operates many of the busiest and most important

transportation links in the region. They include John F. Kennedy International, Newark Liberty

International, LaGuardia, Stewart International and Teterboro airports; AirTrain JFK and AirTrain

Newark; the George Washington Bridge and Bus Station; the Lincoln and Holland tunnels; the three

bridges between Staten Island and New Jersey; the PATH (Port Authority Trans-Hudson) rapid-transit

system; Port Newark; the Elizabeth-Port Authority Marine Terminal; the Howland Hook Marine Terminal

on Staten Island; the Brooklyn Piers/Red Hook Container Terminal; and the Port Authority Bus Terminal

in midtown Manhattan. The agency also owns the 16-acre World Trade Center site in Lower Manhattan.