Date: 25^th April 2005

NY container terminal strikes deal with Hamburg Sud

NEW York Container Terminal (NYCT) says Germany's Hamburg Sud is to move its operation from New Jersey to the northwest shore of Staten Island in the first quarter of 2006.

An NYCT statement said the move will result in an additional 25-30 longshore and maritime support jobs - the majority of which will go to residents in the Big Apple.

"We're thrilled that Hamburg Sud has made the decision to bring their service to us," NYCT president and CEO, Jim Devine, said.

"They are a long-established line dating back to the 1870's and we view their decision as an endorsement for everything that has been done here over the last three years with the help of the Port [Authority] and City EDC to put New York back as a credible option in the marine commerce business."

Director of Operations for Hamburg Sud, Rainer Dehe said: "We are pleased to confirm that our container shipping operation will be moving to NYCT. Once the current dredging work in the Arthur Kill is complete, our service will transfer to Staten Island and we expect to have a productive association with the Terminal for some time to come.

The long-term deal will result in more than US$10 million in revenues to NYCT from stevedoring and related services per year.

The container volume at Howland Hook as a result of this agreement is about 800 containers per week, or 40,000 containers per year with 52 ship calls during that time frame, the statement explained.