Maersk agrees 33-year lease extension with Port Authority of New York and New Jersey for APMT Elizabeth

AP-Moller Maersk and the Port Authority of New York and New Jersey (PANYNJ) have agreed a 33-year lease extension for APM Terminals (APMT) Elizabeth through to December 2062. 

Originally set to expire in 2029, the lease extension paves the way for infrastructure investments which will enhance capacity and transport velocity, create jobs and strengthen the US economy. 

Keith Svendsen, APMT CEO, said: “We are deeply honoured and grateful for chairman Kevin O’Toole and executive director Rick Cotton’s support to extend our lease at APMT Elizabeth.