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November 17, 2016

NYK Ports, MIP III buys 20% share in Maher Terminals

NYK Line subsidiary NYK Ports, along with Macquarie Infrastructure Partners III (MIP III) has purchased a 20% share in Maher Terminals (Maher), which operates a terminal in the US port of New York and New Jersey.

NYK Line subsidiary NYK Ports, along with Macquarie Infrastructure Partners III (MIP III) has purchased a 20% share in Maher Terminals (Maher), which operates a terminal in the US port of New York and New Jersey.

The deal is in line with NYK Group’s medium-term management plan ‘More Than Shipping 2018’, which aims to boost the company’s global network and will enhance synergy between terminals and containerships.

Financial details of the deal have not been disclosed by the companies.

"The terminal will be able to handle containerships carrying up to 14,000 TEUs capacity."

With a handling capacity of three million twenty foot equivalent units (TEU) of containers per year, Maher is the biggest terminal in the port.

NYK Ports noted that after construction to raise Bayonne Bridge’s clearance is completed by late next year, the terminal will be able to handle containerships carrying up to 14,000 TEUs capacity.

Currently, the port of New York and New Jersey handles the majority of the containers on the East Coast of North America.

Maher is further expected to witness more growth as the traffic bound for the East Coast through the Suez Canal increases in recent times.

The shift in the manufacturing sector from China to South East Asia is also estimated to bring larger ships destined for the East Coast for use of the expanded Panama Canal.

In September, NYK purchased a 25% share of EMAS Chiyoda Subsea (ECS), which is involved in the field of engineering, procurement, construction, and installation (EPCI) of subsea facilities.

The acquisition was completed on the basis of a deal signed in June this year with Ezra Holdings (Ezra) and Chiyoda.


Image: Maher Terminals currently has handling capacity of 3.0 million TEU of containers per year. Photo: courtesy of NYK Line.

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