---

The Port Authority of New York and New Jersey has announced that it set an all-time record for cargo volume in 2011, surpassing the previous record set in 2007 - before the start of the global economic downturn.

The 5.5 million TEUs (20-foot equivalent units) handled in 2011 represent an increase of nearly 4 percent on 2010 volumes and bodes well for bunker suppliers at the East Coast port. The port of New York and New Jersey is the largest on the East Coast and the third largest in the country behind Los Angeles and Long Beach.

"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 - $1 billion 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,” added Samson.

"The port business is extremely competitive, and we continue to make our case to the shipping community that they should bring their business here," said Port Authority Executive Director Pat Foye. “The investments we made in the port’s infrastructure have paid dividends, and we will continue to demonstrate that our port is open for business and prepared to handle increasing volumes of cargo from around the world by making investments that provide a reasonable return to the Port Authority and the region in terms of new job creation and revenue generation.”

Port Authority Deputy Executive Director Bill Baroni said, “The Port Authority, under the leadership of Governor Christie and Governor Cuomo, continues to make necessary investments in our ports, and the numbers announced today offer further proof that we are moving in the right direction for the region.”

During 2011, the Port of New York and New Jersey reported that loaded TEU imports rose by 4 percent to 1,562,413, while loaded exports increased 6.6 percent to 918,316.

With the steady rise in cargo volume, the Port Authority’s board is continuing to invest in several port projects.

In December 2011, the board authorized a $39 million dollar 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-foot 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. These projects are all designed to provide unimpeded ocean and landside access capacity to and from the port for the expected future annual cargo growth.

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 travelling 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 $1 billion towards this project.