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

Mon, 02 Dec 2024

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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