This month’s issue of American Shipper contains articles about improvements being made at both the Global Container Terminal and Port Newark Container Terminal, but there’ also been interesting news involving other marine terminals in New Jersey.
The Wall Street Journal and Reuters reported in late June that Deutsche Bank is looking to sell part or all of Maher Terminals, the largest terminal operation in the Port of New York and New Jersey, as well as the container terminal in Prince Rupert, British Columbia.
There were reports in 2012 that the bank put Maher on a list of assets it might sell. This follows the decision earlier this year by Maher’s neighbor, APM Terminals, to sell a half-interest in its Elizabeth terminal to Brookfield Asset Management.
In July, Holt Logistics, which runs the Philadelphia Regional Port Authority’s Packer Avenue Marine Terminal, announced it’s partnering with the South Jersey Marine Corp. to build a new terminal in Paulsboro, N.J. on the Delaware River.
Sources tell American Shipper these developments demonstrate strong appetite by private equity investors in port assets.
“There is no shortage of folks that are long on capital, and short on human capital,” said Holt Logistics President Leo Holt. “Infrastructure is very much back in vogue” and investors are looking for strong port operators with which to partner.
This commentary was published in the August 2014 issue of American Shipper.
