NEWS\\\


The Port Authority of New York/New Jersey (PANY/NJ) is bolstering its already loſty ranking among East Coast and national ports by announcing the completion of the ExpressRail Port Jersey facility, operated by GCT Bayonne – the final piece of the Port of New York and New Jersey’s intermodal rail network spanning facilities in Elizabeth, Newark and Staten Island. The new facility, coupled with the completion of the raising of the Bayonne Bridge to accommodate ultra large container vessels and over $4 billion in other modernization initiatives over the past two decades, has led to unprecedented cargo growth. Between 2009 and 2018, the


number of containers handled at the Port of New York and New Jersey grew from more than 2.6 million to almost 4.1 million each year, an increase of 54%. That trend has continued and aſter the first four months of 2019, the port is poised to surpass Long Beach and become the nation’s No. 2 busiest cargo port for the first time


in more than two decades. These investments and the


improved capacity, flexibility, and efficiency of the ExpressRail network have incentivized shippers to turn to Port of New York and New Jersey to quickly supply not only the northeast but also the Midwest and Canada. 75% of all container carrier services make the Port of NY/NJ their first port of call on the East Coast. Given the efficiency with which the Port’s terminal operators and ExpressRail move containers to and from growing markets, the largest ships have dramatically increased


the number of


containers unloaded and loaded here rather than at ports further down the coast. The opening of the network’s


ExpressRail Port Jersey intermodal


rail facility allows


the port to advance its five-year strategic goal to handle more than 900,000 rail liſts a year, the equivalent of 1.5 million fewer truck trips traveling through local roads, which will greatly reduce congestion and greatly enhance


Port of Oakland’s


keystone project set to be delivered in 2020


Port of Oakland Commissioners have approved the final permit associated with one of the most anticipated industrial developments in port history: its long-awaited Seaport Logistics Complex. The developer, CenterPoint


Properties, began preparation and ground stabilization work on its 27-acre site over the last nine months and is actively engaged in construction on the 460,000 square-foot facility, with completion expected mid-2020. “We look forward to starting vertical construction


and


continuing to work closely with the Port to make sure this project is a point of pride for everyone involved,” said CenterPoint Chief Development Officer Michael Murphy. CenterPoint’s $52 million


project would anchor a logistics campus planned for 180 acres at the decommissioned Oakland Army Base. CenterPoint will


construct, then manage the first building at the campus. The port inherited the property 15 years ago and has been planning for its use ever since.


CenterPoint


said it plans to lease the building to tenants engaged in cargo transportation or logistics. “We’ve waited a long time to


reach this point, but now our future is in view,” said Port of Oakland Maritime Director John Driscoll. “CenterPoint’s facility will give us logistics capability you can’t find at other ports.” The port envisions a campus


where containerized cargo could be quickly transferred from ships to trucks or rail. It’s expected to increase the volume of international shipments moving through Oakland. The Seaport Logistics Complex


is in the heart of the port, just off Maritime Street, near Oakland’s Outer Harbor. It’s being developed right next to the Port’s 3-year-old, $100 million rail yard.


air quality. The rail facilities were designed to reduce the port’s historical heavy reliance on trucks to transport cargo and expands its geographic cargo reach to inland hubs. Trucks still account for moving 85% of all containers on and off port terminals today. Completion of the rail network


culminates two decades and approximately $6 billion dollars of


investment in the port to


drive cargo growth, and in turn build on the 400,000 jobs and billions in economic


activity


the maritime facilities generate. In addition to the $1.7 billion Bayonne Bridge project and the $600 million in port rail network investment, the port has also deepened harbor channels to 50 feet, rebuilt wharves and berths, greatly enhanced its road


network and


internal installed


improved security systems and infrastructure. The investments have the


Port of New York and New Jersey poised to overtake the Port of Long Beach as the nation’s No. 2 busiest port for the first time in at


least two decades. From January through April 2019, the Port of New York and New Jersey reported 1,690,214 loaded TEUs (20-foot equivalent units) compared to the Port of Long Beach’s 1,669,440 loaded TEUs for the same period. The Port of New York and New Jersey surpassed Long Beach in volume of both loaded imports (1,203,674


TEUs) and loaded


exports (486,540 TEUs). “The port has been the lifeblood


of the New York-New Jersey regional economy for decades, and completion of this intermodal rail project will only help to bolster our already strong position in attracting international cargo destined for the northeast region and beyond,” said Port Authority Chairman Kevin O’Toole. “We are committed to continuing our investments in infrastructure that will ensure continued cargo growth and the economic activity that results from it.” “The billions of dollars the Port


Authority has invested in the port over the past two decades, including the deepening of port


Issue 6 2019 - FBJNA


channels to 50 feet, the raising of the Bayonne Bridge, and the full buildout of the port’s rail network are today paying major dividends with cargo volumes at all-time record levels,” said Port Authority Executive Director Rick Cotton. “Our priority is to continue the unprecedented growth our port has experienced in the past year and to do so in a competitive, efficient, sustainable way.” The completion of ExpressRail


Port Jersey will help support the port’s cargo growth. With an annual capacity of 250,000 container liſts, ExpressRail Port Jersey connects GCT Bayonne to CSX and Norfolk Southern’s extensive rail network, allowing shippers to efficiently and seamlessly transfer their cargo from ship to rail and reach key inland markets in the Midwest, New England, Eastern Canada and elsewhere in a timely, efficient and environmentally friendly manner. The ExpressRail Port Jersey


intermodal rail facility consists of eight tracks for active loading and unloading of cargo from GCT Bayonne that connect to two lead tracks to and from the main freight rail network. It also consists of support and train storage track and two high-efficiency, all electric, regenerative powered, widespan, dual cantilevered rail


DHL Global Trade Barometer reflects deteriorating global trade


For the first time since its


launch in January 2018, the DHL Global Trade Barometer indicates a slight contraction of worldwide trade for the next


three months. These


losses led to an overall drop in the world trade outlook by -8 points, to a new index value of 48. In other words, world trade – forecasted by trade flows in intermediaries and early-cycle commodities – is expected to decline in the coming three months, albeit mildly. The overall decline was


driven by significant losses for both air and containerized ocean trade, which are the GTB’s two fundamental constituents. Air trade declined by -6 to 49 points, and containerized ocean trade by -8 points to 48 index points. The latest developments


continue a downward trend which the GTB has been


recording for several quarters since mid-2018. The current contraction is also the first one since 2015, when the GTB – which takes into account historical onwards


data from 2013 – measured more


than a month-long decline of global trade volumes in the middle of the year. “Amidst rising US-Chinese


tensions, the slightly negative outlook for global trade for the third quarter of 2019 does not come as a complete surprise,” commented Tim Scharwath, CEO of DHL Global Forwarding, Freight.


“The latest GTB


clearly illustrates why trade disputes create no winners. Nevertheless, some major economies such as Germany continue to record positive trade growth. And from a year-to-date perspective, world trade growth has still been positive. Hence, we remain confident in our initial


prognosis that 2019 will be a year with overall positive, but slower trade growth.” Eswar S. Prasad, Professor of


Trade Policy and Economics at


Cornell Ithaca, NY,


University sees


in growth


weakening in the key drivers of the world economy. “Most macroeconomic and labor market indicators point to a cooling of US growth and financial market sentiment has been hurt by trade tensions,” he said. “The Chinese government’s stimulus measures appeared to be stabilizing growth, but persistent trade tensions are again dragging down growth momentum


in China. The


German growth revival looks fragile while India’s


growth


has hit the skids, with rising doubts about the prospects of major economic reforms. A synchronized slowdown of the world’s major economies


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mounted gantry cranes featuring LED lighting to load and unload containers in the intermodal yard. Every container moved at


ExpressRail Port Jersey, operated by GCT Bayonne, eliminates 1.5 truck trips. Over the life of the intermodal facility, reductions resulting from the switch from truck to rail


transportation is


expected to total 415 tons of nitrogen oxide and 108 tons of particulate matter, or the equivalent of taking more than 45,300 cars off the road. It also will reduce carbon dioxide emissions by 18,300 tons annually. The cost of the ExpressRail


Port Jersey facility is $149 million, including the Port Authority funded $56 million for GCT USA to complete final design and construct the intermodal container transfer facility. The remainder of the project, including lead tracks and storage track, accounts for the balance of the investment. The $149 million is recoverable over time through monies collected through


the Cargo Facility


Charge, a fee assessed on cargo shipped through the Port of New York and New Jersey to cover the cost of critical road, rail and security infrastructure projects. Port Authority capital funds were deployed to front-end the investment.


could affect trade volumes, if the uncertainty continues to dampen consumer demand and business investment.” As one of the parties


involved in the current trade disputes, the US saw by far the heaviest losses amongst all GTB index countries, with its outlook declining by -11 points to 44. Those losses were mainly driven by a negative outlook for major export categories. China scores second in terms of losses, with a decline of -7 points to 49 – an index value one point below stagnation. China’s negative outlook


was primarily driven by declining imports in several categories, combined with just minor overall export growth. Whilst the trade dispute between the two countries has been a looming, growth- impending threat since the GTB’s launch in January 2018, it has never manifested itself as much as now in actual trade forecasts. Given the US’ and China’s large cont r ibution


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