AP Moller-Maersk and the Port Authority of New York and New Jersey (PANYNJ) have agreed to extend APM Terminals Elizabeth’s lease through December 2062. Originally set to expire in 2029, the lease extension marks a significant milestone in the partnership, which dates back over a century, says a company statement. The 33-year lease extension paves the way for major infrastructure investments, which will enhance capacity and transport velocity, create jobs and strengthen the US economy, it adds. The proposed deal is subject to vote by Port Authority Board of Commissioners on March 27. APM Terminals Elizabeth currently handles over 25 per cent of the annual container throughput in the port complex, supported by more than 1,100 members of the International Longshoremen’s Association.
PIL names dual-fuel vessel ‘Kota Embun’
Pacific International Lines (PIL) has named its fourth 14,000-TEU LNG dual-fuel container vessel ‘Kota Embun’. Embun means ‘dew’ in Malay and symbolises renewal and harmony with nature, reflecting the vessel’s role in promoting sustainable and environmentally friendly shipping practices, a company release says. The vessel is part of PIL’s ‘E’ class series, which are the largest in its fleet. They are also the first to run on liquefied natural gas (LNG) and were built by Jiangnan Shipyard in China. Kota Embun is the first PIL vessel to feature a bow windshield for improved aerodynamics, which is expected to reduce fuel consumption and corresponding emissions by 1 per cent a year on the ‘Far East to West Coast Central and South America Service 2’ route, the release adds.