port authority to offer cash incentive to rail shippers

January 24, 2009 at 1:29 am Leave a comment

Yesterday, the Port Authority of New York and New Jersey (PANYNJ) board approved an incentive program aimed at encouraging shippers to transport more cargo by rail.

The authority will give ocean carriers $25 for every additional container shipped by rail in 2009 vs. what that shipper transported by rail in 2008.

“This incentive program will keep our port competitive and ensure that it remains a leading source of jobs and economic activity in our region, despite the challenging economic climate,” said PANYNJ Chairman Anthony Coscia in a prepared statement.

In 2008, the authority transported a record 377,827 containers through its on-dock rail system, an almost 6 percent increase compared with 2007.

PANYNJ currently is investing $600 million to upgrade port rail facilities in Newark and Elizabeth, N.J., and Staten Island, N.Y., to accommodate 1.5 million containers annually. In June, the authority expects to complete two of the projects: a second lead track into ExpressRail Elizabeth and a rail support facility along Corbin Street. The two projects will nearly double the port’s rail capacity.

Railroad Progress

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