Port of New York and New Jersey

Readying the Northeastern U.S. for Electric Trucks: National Grid to Build DOE Funded Roadmap

Retrieved on: 
Monday, October 16, 2023

WALTHAM, Mass. and BROOKLYN, N.Y., Oct. 16, 2023 /PRNewswire/ --National Grid today is announcing the kickoff of a landmark study to support the electrification of commercial fleets, mapping out truck charging needs across nearly 3,000 miles of major highways in the U.S. Northeast. Funded by a $1.2 million grant awarded by the U.S. Department of Energy (DOE), the two-year effort to build a Northeast Freight Corridors Charging Plan will focus on highways with heavy trucking traffic, including I-95 and I-90, and areas with commercial activity, like the Port of New York and New Jersey.

Key Points: 
  • The study led by National Grid will develop 20-year demand forecasts for more than 100 sites across New York, New Jersey, Pennsylvania, and all New England states.
  • "Readying our grid infrastructure for electric trucks will require careful planning and close collaboration across state lines," said Bart Franey, Vice President of Clean Energy Development in New York, National Grid.
  • "This DOE grant award brings the right stakeholders into the same room to chart a clear course for electric truck charging across the Northeast.
  • National Grid will also closely coordinate with CALSTART, the recipient of a similar DOE grant, to map out truck charging needs south of National Grid's study area.

Lincoln Equities Group Appoints New CEO, Announces Strategic Internal Restructuring

Retrieved on: 
Tuesday, September 26, 2023

EAST RUTHERFORD, N.J., Sept. 26, 2023 /PRNewswire-PRWeb/ -- Lincoln Equities Group (LEG), a prominent leader in real estate development and investment, today announced that as part of an internal restructuring, longtime Managing Director Lance Bergstein will become its newest chief executive officer, replacing Joel Bergstein, who will assume the role of executive chairman. 

Key Points: 
  • "I am grateful for the opportunity to lead Lincoln Equities Group into its next era, reinforcing to the market and our partners that LEG is here for the long run," said Lance Bergstein.
  • In 2022, he was pivotal in selling a 42-acre portion of LEG's Princeton West Innovation Campus to BeiGene, a global biotech firm.
  • "I am excited to take on the role of executive chairman at Lincoln Equities Group," said Joel Bergstein.
  • This internal restructuring marks a pivotal moment for Lincoln Equities Group, underscoring its commitment to adapt and thrive in a dynamic industry.

IMTT Announces Plans to Consolidate Bayonne, New Jersey Operations and Redevelop 130 Acres of Its Property

Retrieved on: 
Wednesday, March 29, 2023

IMTT today announced plans to consolidate its existing bulk liquid storage operations in Bayonne, New Jersey, which will free up approximately 130 waterfront acres for redevelopment on its 450-acre property.

Key Points: 
  • IMTT today announced plans to consolidate its existing bulk liquid storage operations in Bayonne, New Jersey, which will free up approximately 130 waterfront acres for redevelopment on its 450-acre property.
  • The consolidation will enable IMTT to serve its bulk liquid customers more efficiently and attract additional economic development opportunities to the Bayonne area.
  • “We look forward to working with prospective partners to leverage the significant advantages of locating their businesses at IMTT’s unique property.
  • This is a great day for the city of Bayonne.”
    IMTT is actively considering all potential development opportunities for the approximately 130 acres on the east side of its Bayonne property.

GCT Global Container Terminals Inc. enters into agreement to sell U.S. business to CMA CGM Group

Retrieved on: 
Tuesday, December 6, 2022

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Key Points: 
  • New York, NY, Dec. 06, 2022 (GLOBE NEWSWIRE) -- GCT Global Container Terminals Inc. (GCT) today announced that it has entered into an agreement to sell its U.S.-based terminal assets to CMA CGM Group, a global player in sea, land, air and logistics solutions.
  • GCT currently operates two U.S. terminals: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ, in the Port of New York and New Jersey.
  • GCT will retain full ownership of GCT Canada and its terminals, GCT Deltaport and GCT Vanterm operating in the Port of Vancouver.
  • On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC.

GCT Global Container Terminals Inc. enters into agreement to sell U.S. business to CMA CGM Group

Retrieved on: 
Tuesday, December 6, 2022

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Key Points: 
  • New York, NY, Dec. 06, 2022 (GLOBE NEWSWIRE) -- GCT Global Container Terminals Inc. (GCT) today announced that it has entered into an agreement to sell its U.S.-based terminal assets to CMA CGM Group, a global player in sea, land, air and logistics solutions.
  • GCT currently operates two U.S. terminals: GCT New York on Staten Island, NY and GCT Bayonne in Bayonne, NJ, in the Port of New York and New Jersey.
  • GCT will retain full ownership of GCT Canada and its terminals, GCT Deltaport and GCT Vanterm operating in the Port of Vancouver.
  • On the West Coast, GCT Canada operates two gateway terminals: GCT Vanterm and GCT Deltaport in Vancouver and Delta, BC.

CMA CGM to acquire flagship terminals in the Port of New York and New Jersey

Retrieved on: 
Wednesday, December 7, 2022

New York port area: a strategic gateway on the U.S. East Coast strengthening the CMA CGM global footprint in the U.S.

Key Points: 
  • New York port area: a strategic gateway on the U.S. East Coast strengthening the CMA CGM global footprint in the U.S.
    Acquisition completes CMA CGM's portfolio of 7 terminals in the U.S. and strengthens the Group's position as global port terminal operator.
  • CMA CGM intends to further develop its shipping line calls in the New York area for which the terminals will provide future capacity.
  • Currently, the Group has investments in 52 port terminals in 28 countries, through CMA Terminals and its Terminal Link joint venture.
  • Rodolphe Saad, Chairman and CEO of the CMA CGM Group, said: "The acquisition of GCT Bayonne and GCT New York terminals is a strategic investment for the CMA CGM Group.

Seven Hills Realty Trust Closes $47.0 Million Bridge Loan to Finance the Acquisition and Renovation of an Industrial Property in Passaic, New Jersey

Retrieved on: 
Tuesday, September 13, 2022

Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $47.0 million first mortgage floating-rate bridge loan to finance the acquisition and renovation of a 330,000 square foot industrial warehouse property located at 153 Linden Street in Passaic, New Jersey.

Key Points: 
  • Seven Hills Realty Trust (Nasdaq: SEVN) today announced the closing of a $47.0 million first mortgage floating-rate bridge loan to finance the acquisition and renovation of a 330,000 square foot industrial warehouse property located at 153 Linden Street in Passaic, New Jersey.
  • SEVNs manager, Tremont Realty Capital , was introduced to the transaction by JLL Capital Markets , which advised the sponsor, Thor Equities .
  • This is our sixth loan closing this year and increases SEVNs committed capital to more than $760 million.
  • Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate.

City of Newark and NJIT Selected Finalists for $1 Billion Build Back Better Regional Challenge

Retrieved on: 
Monday, December 13, 2021

Newark, N.J., Dec. 13, 2021 (GLOBE NEWSWIRE) -- U.S. Secretary of Commerce Gina M. Raimondo has announced that a regional coalition led by the City of Newark and New Jersey Institute of Technology (NJIT) is among 60 projects selected as finalists for up to $100 million in funding from the U.S. Economic Development Administrations (EDA) $1 billion Build Back Better Regional Challenge.

Key Points: 
  • Newark, N.J., Dec. 13, 2021 (GLOBE NEWSWIRE) -- U.S. Secretary of Commerce Gina M. Raimondo has announced that a regional coalition led by the City of Newark and New Jersey Institute of Technology (NJIT) is among 60 projects selected as finalists for up to $100 million in funding from the U.S. Economic Development Administrations (EDA) $1 billion Build Back Better Regional Challenge.
  • It was at Congressman Paynes initiative that NJIT began working with the Port months prior to the announcement of the Build Back Better Regional Challenge grant opportunity.
  • The projects selected as finalists for the Build Back Better Regional Challenge are designed to develop or scale industry sectors, train the workforce of today and tomorrow, and build resilient economies.
  • The projects undertaken will be central to the operation of Port Newark and to growing its regional economic impact.

TRAC Intermodal Once Again Named Best Overall Chassis Provider At The Port Of NY/NJ By The Association Of Bi-State Motor Carriers

Retrieved on: 
Monday, September 20, 2021

PRINCETON, N.J., Sept. 20, 2021 /PRNewswire/ --The Association of Bi-State Motor Carriers has named TRAC Intermodal as the Best Overall Chassis Provider in the Port of New York and New Jersey for the fourth time in the past six years.

Key Points: 
  • PRINCETON, N.J., Sept. 20, 2021 /PRNewswire/ --The Association of Bi-State Motor Carriers has named TRAC Intermodal as the Best Overall Chassis Provider in the Port of New York and New Jersey for the fourth time in the past six years.
  • In discussing the award, Bi-State Motor Carriers PresidentLisa Yakominnoted that the past year has been especially challenging for all stakeholders at the Port of New York and New Jersey, including equipment providers.
  • "The record-breaking freight volumes we've experienced have made maintaining sufficient inventory of reliable, road-worthy chassis an extremely difficult task," Yakomin notes.
  • "We greatly appreciate being recognized once again by the Association of Bi-State Motor Carriers for this award," said Daniel Walsh, President and CEO at TRAC Intermodal.

GCT New York Welcomes Wan Hai Lines’ First Service Between Asia and East Coast of North America

Retrieved on: 
Monday, August 2, 2021

The Cape Mayor is the first vessel call of Wan Hai Lines' new independent weekly service between Asia and the East Coast of North America.

Key Points: 
  • The Cape Mayor is the first vessel call of Wan Hai Lines' new independent weekly service between Asia and the East Coast of North America.
  • "Having served the West Coast for over 20 years, Wan Hai is excited for the opportunity to expand its service to the East Coast.
  • This new East Coast North America service, calling at GCT New York, will provide Wan Hai the ability to provide increased options and better transit times for our customers, and we look forward to working closely with GCT USA."
  • GCT USA on the East Coast operates two award-winning facilities: GCT New York in Staten Island, NY, and GCT Bayonne in Bayonne, NJ.