Maersk and the Port Authority of New York and New Jersey have reached an agreement to prolong the lease for APM Elizabeth.

A.P. Moller - Maersk and the Port Authority of New York and New Jersey have extended APM Terminals Elizabeth's lease until December 2062, a significant move that allows for major infrastructure investments to boost capacity, transport efficiency, and job creation, thereby strengthening the US economy. The deal, pending approval by the Port Authority Board, is seen as a continuation of a longstanding partnership. APM Terminals plans further enhancements, including electrification and layout optimization, to support local economic growth and improve export capabilities.