The Port Authority of Howland Hook Waterfront in Staten Island, New York, has signed a 35-year lease extension with the city for the 202-acre Howland Hook Marine Terminal in Mariners Harbor.

The agency also extended its lease for the Brooklyn Cruise Terminal by 20 years, with the option of further lengthening it to 2058.

The extension of the Howland Hook lease signifies that the Authority can offer to extend its sublease to the New York Container Terminal, which is planning a major port expansion project to add a fourth berth.

The company, with an estimated investment of $110m, is planning to dredge up to 50ft by 2023, to accommodate the future fleet of larger container ships.