THE PORT AUTHORITY OF NY & NJ

Press Release Article


PORT AUTHORITY & GCT USA WELCOME THE LARGEST CONTAINERSHIP TO CALL ON THE PORT OF NY/NJ

Date: Jul 08, 2016
Press Release Number: 122-2016

The MOL BENEFACTOR is first to transit the expanded Panama Canal locks and visit an East Coast port

BAYONNE, N.J. – The Port Authority of New York and New Jersey and GCT USA today welcomed the captain and crew of the MOL BENEFACTOR at GCT Bayonne. As the largest container vessel ever to call on the Port of New York and New Jersey, this signals a new era in shipping as the port continues to handle the largest vessels now transiting the recently expanded Panama Canal locks.

The MOL BENEFACTOR is a new Panama class vessel boasting a 10,100 TEUs (twenty-foot equivalent units) cellular capacity. It is the first vessel to visit any East Coast port after passing through the new locks, which opened on June 26. GCT USA completed expansion at the state-of-the-art GCT Bayonne in the summer of 2014, ensuring the port was big ship ready for large vessels already transiting the Suez Canal. Previously, the largest ship to call on the port was the 10,070 TEU Zim Tianjin in spring 2015, which was also serviced by GCT Bayonne.

By contrast, the average vessel calling on the Port of New York and New Jersey today has a capacity of 5,000 TEUs, meaning new larger ships like the MOL BENEFACTOR will result in cargo coming in and out of the harbor on fewer ships. These new Panama class ships are the most advanced environmentally engineered ships afloat, dramatically reducing emissions per ship and emissions for total cargo handled. The MOL BENEFACTOR, a neo Panamax vessel christened in 2016, is approximately 48.6 percent more fuel efficient than a standard Panamax vessel that calls on the port.

"Today's event shows that we are big ship ready and that shippers can move cargo to and from New York and New Jersey and beyond on larger, more fuel efficient vessels, carrying consumer and industrial goods in fewer calls," said Port Authority Executive Director Pat Foye. "This is great news for the 336,000 jobs the port already supports and the billions in economic activity it provides. But equally important, it's good news for the environment in and around the harbor."

"We welcome the MOL BENEFACTOR to our port and look forward to other large ships visiting the port in the coming weeks," said Port Authority Port Commerce Director Molly Campbell. "Today's ship call validates that we are open for business and that we are big ship ready now that the Panama Canal project is complete. We look forward to handling even more megaships at our terminals in the Port of New York and New Jersey once the Bayonne Bridge is raised by the end of next year."

"GCT is committed to service excellence and innovation for our customers," stated John Atkins, GCT USA President. "Our private investment expanded and modernized GCT Bayonne in advance of the Panama Canal completion, ensuring that the Port of New York and New Jersey was big ship ready. This enables us to handle our customers' largest vessels now and for years to come, ensuring that New York remains the harbor of choice."

To prepare for the new larger ships, the Port Authority and its private sector tenants have invested approximately $6 billion in projects to prepare the port complex. The most critical investment is the raising of the roadway on the Bayonne Bridge, a $1.3 billion project that will increase the navigational clearance under the bridge from 151 feet to 215 feet. Ships docking at GCT Bayonne do not have to travel under the Bayonne Bridge. The bridge's navigational clearance will be in place by the end of 2017, allowing all terminals to serve the largest ships calling the port.

In addition, a 10-year project to deepen the harbor's channels to 50 feet will be completed this summer. The Port Authority also invested $600 million to equip port terminals with environmentally-friendly on-dock rail, in addition to significant investments to upgrade the port's internal road network.

During the upcoming weeks, additional large ships from the G6 Alliance will make their maiden voyages to the Port of New York and New Jersey, calling GCT Bayonne.

CONTACT:
Port Authority of New York and New Jersey
212-435-7777

About the Port Authority of New York and New Jersey

Founded in 1921, the Port Authority of New York and New Jersey builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. The agency's network of aviation, ground, rail, and seaport facilities is among the busiest in the country, supports more than 550,000 regional jobs, and generates more than $23 billion in annual wages and $80 billion in annual economic activity. The Port Authority also owns and manages the 16-acre World Trade Center site, where the 1,776-foot-tall One World Trade Center is now the tallest skyscraper in the Western Hemisphere. The Port Authority receives no tax revenue from either the State of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, please visit http://www.panynj.gov.

About GCT Global Container Terminals Inc.

Headquartered in Vancouver, BC, GCT Global Container Terminals Inc. operates four Green Marine certified terminals in two principal North American ports. Through GCT USA on the East Coast, the company operates two award-winning facilities: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ. On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC. Visit www.globalterminals.com and follow us @BigShipReady to find out more about GCT.

For more information:

Steve Coleman
Port Authority of New York and New Jersey
212 435 7777
scoleman@panynj.gov

Louanne Wong
GCT Global Container Terminals Inc.
+1 604 267 5102
media@globalterminals.com