The Wall Street Journal

US port wants bigger payday from surging ocean trade

US port wants bigger payday from surging ocean trade
The Port of New York and Jersey is increasingly aggressive in ensuring it gets its share of a global shipping boom. (Image: Supplied)
The Wall Street Journal
By Paul Berger The US East Coast’s busiest port is flexing its muscle as it tries to grab a bigger share of the enormous profits and multibillion-dollar land deals flowing through the shipping industry.The Port of New York and New Jersey is demanding a slice of transactions when terminals are bought and sold and looking for a larger piece of the revenues for business moving across its docks. It is also requiring cargo-handling tenants to spend more of their own money upgrading infrastructure.The port’s more aggressive approach...

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