Speakers at the event included U.S. Transportation Secretary Anthony Foxx, U.S. Senator Robert Menendez, U.S. Senator Cory Booker, N.J. Congressman Albio Sires, N.J. Congressman Donald Payne Jr., City of Newark Mayor Ras J. Baraka, Exssex County (NJ) Executive Joseph DiVincenzo, Port Authority of NY/NJ Deputy Executive Director Deborah Gramiccioni, and PNCT President/CEO James Pelliccio.
PNCT President James Pelliccio welcomed the dignitaries, PNCT customers, vendors, employees, ILA leadership and friends. “PNCT wants to recognize the extraordinary efforts of the city, county, state and federal governments and the Port Authority of NY/NJ in their support of PNCT, its board of directors, shareholders, employees and labor force in this successful investment undertaking,” Pelliccio said. “Since 2011, PNCT and its shareholders have invested more than $140 million into the development of this facility. And, although today’s event originally was planned as a ceremonial ribbon cutting to commemorate the commissioning of our newly acquired super-post-Panamax gantry cranes, it has become much more. As a result of the efforts of many, we are able to announce the early opening of our expanded rail operations, the completion of the newly constructed Rail Flyover Bridge and the advancement of the Port Newark Terminal Expansion Project, supported by the recently awarded $14.8 million Federal Tiger Grant.”
U.S. Transportation Secretary Foxx addressed the gathering by renewing his commitment to push for greater investments in infrastructure.
“It’s a big day for the Port of Newark: This groundbreaking comes on the heels of a $15-million-dollar TIGER grant that DOT awarded this port last month. As a nation, we’re going to have to move almost twice the amount of freight we move now by 2050. And this grant will better position the port to handle that volume. It’ll help trucks move in and out of the port faster – and help the port handle more cargo here. This is a great day for Newark. And this project is worth celebrating.”
The newly dedicated cranes have impressive statistics. Each crane’s weight is 1300 L.T. and has a lifting capacity of 65 L.T. (80 LT with cargo beam), a hoist height of 144 feet and an outreach of 191 feet. The $40 million cranes are capable of handling 14,000+ TEU vessels, 22 wide, with a 65-ton twin 20-foot lifting capacity. Accommodating these larger vessels will improve the terminal’s capacity and efficiency, thereby contributing toward greater economic growth in the region.
In addition to the cranes, PNCT currently is undergoing major improvements, including the development of additional acreage, deepening the berths, strengthening the docks, expanding the queuing area and upgrading capital equipment. PNCT has completed the upgrade of its entire fleet of container-handling equipment. As one of the largest infrastructure projects in New Jersey, PNCT is investing more than $500 million in its expansion before 2030. The Port Authority of New York and New Jersey will invest up to an additional $100 million in improvements to the PNCT facility.
Recently, PNCT was awarded a U.S. Dept. of Transportation TIGER VI 2014 Discretionary Grant (Transportation Investment Generating Economic Recovery) in the significant amount of $14.8 million for its Port Newark Container Terminal Access Improvement and Expansion Project, which will demolish outdated warehouses and gate facilities and construct a new paved container storage area and new gate facilities. In order to qualify for this grant, PNCT had to demonstrate the project meets federal criteria, which includes areas such as reduction of pollution and congestion as well as contribute toward economic development. This is part of an overall $53.9 million project, largely funded through private investment, to double the port’s gate capacity, increase container yard capacity by 23 percent, improve overall service levels, increase port productivity and cut truck transaction times by as much as half. Additionally, the project will generate good-paying full-time and construction jobs.
PNCT currently holds close to 20 percent of the market share in the Port of New York and New Jersey. The Port of New York and New Jersey, the largest container port on the East Coast, is the first call port for crossing the Atlantic. It accounts for 61 percent of container throughput in the Northeast, with projected growth rates through 2022 estimates between 3 and 4 percent compound annual growth rate, raising the port volumes to almost 8 million TEU. Additionally, the Port Authority of New York and New Jersey is raising the navigational clearance of the Bayonne Bridge by 2016, allowing these new larger vessels to transit and call the major container terminals. For additional information, please visit.