Fort Lee NJ, Today the Port Authority of New York and New Jersey released its six-month financial results which revealed an approximately $777 million decline in revenues through June 30, 2020 as compared to the agency’s budget, with additional losses against 2020 Budget expected through the balance of the year. Since the full force of the Covid-19 crisis started in March, the agency’s revenue loss has averaged $240 million per month as compared to budget. Based on these results, together with the forward-looking forecasts, the Port Authority continues to project a $3 billion loss in revenues for the 24-month period ending March 2022.
Ridgewood NJ, Governor Phil Murphy released in a statement that he intends to vote to reinstate carpool lanes at the Hudson crossings,Murphy said , “Moving goods and people across the Hudson is existential for our region. Doing this effectively, while reducing traffic and harmful emissions, is a win for both our commuters and our region’s health, while extending the life of our infrastructure. I previously urged the Port Authority to rethink eliminating the carpool discount, and to incent commuters to drive together and reduce the number of cars on the road.
Newark NJ, after immense pressure by the Trump administration ,the European Union says that it has agreed to a series of concessions that would avoid a costly trade war with the US. The EU has agreed to:
• Increase liquefied natural gas (LNG) imports from the United States;
• Lower tariffs;
• Align regulatory standards on medical products;
• Import more US soy beans.
The European Union delegation, led by European Commission President Jean-Claude Juncker and his top trade officials, met with President Donald Trump in a bid to level the field on trade. The official said the EU has agreed to work with the Trump administration to lower tariffs on both sides of the Atlantic .The delegations are still fine tuning language in a common statement on car tariffs. There will be no further tariffs as the details are worked out.
Port Newark–Elizabeth Marine Terminal in New Jersey could be the prime beneficiary or any trade agreement lowering tariffs and promoting trade .The Port Newark–Elizabeth Marine Terminal, a major component of the Port of New York and New Jersey and perhaps the most successful component . Port Newark–Elizabeth Marine Terminal is the principal container ship facility for goods entering and leaving New York metropolitan area and the northeastern quadrant of North America and is one of the few areas of job creation success in New Jersey .
The port is located on Newark Bay, the facility is run by the Port Authority of New York and New Jersey. Its two components—Port Newark and the Elizabeth Marine Terminal (sometimes called “Port Newark” and “Port Elizabeth”)—sit side by side within the cities of Newark and Elizabeth, New Jersey, just east of the New Jersey Turnpike and Newark Airport
As of 2004,Port Newark–Elizabeth Marine Terminal was the largest container port in the eastern United States and the third-largest in the country.Since 1998, the port has seen a 65% increase in traffic. In 2003, the port moved over $100 billion in goods. In 2006, it handled more than 20% of all US imports from Germany a major European trading partner .
Memo to Govs. Cuomo and Christie: Wouldn’t a stronger and more focused, efficient, and accountable Port Authority of New York and New Jersey be a great 100th birthday present for our region?
BY STAR-LEDGER GUEST COLUMNIST
By Andrew Sidamon-Eristoff
In 2021, the Port Authority of New York and New Jersey will be 100 years old. How shall we celebrate?
It’s been a busy couple of years for Port Authority watchers. As if the fundamentally bizarre Bridgegate mess, an old-school bribery scandal involving a former Port Authority chairman and United Airlines, and recent back-to-the-future revelations that almost 40 Port Authority police officers may have systematically neglected their duties weren’t enough to feed the tabloid maw, recent months have seen a notable escalation of bitter power struggles between New York and New Jersey over the Port Authority’s $32 billion capital plan and long-overdue legislation to revamp the bistate authority’s awkward governance structure.
Inevitably, like sharks drawn by the scent of blood in the water, opportunistic politicians and well-meaning advocates have leveraged the current stalemate and confusion to advance a range of ideas for reforming and restructuring the Port Authority. And why not? Can you think of a better time to have an open and informed public conversation about the Port Authority?
Let’s begin at the beginning: Should this bistate agency exist?
Thousands of longshoremen in New York and New Jersey walked off the job on Friday, grinding activity at some of the busiest ports on the East Coast to a halt and threatening to disrupt the delivery of goods across the region.
The walkout surprised many involved in the operation of the ports, according to officials, and the reasons behind the move were not immediately clear.
News of the work stoppage came in an alert issued by the Port Authority of New York and New Jersey, which acts as a landlord for the ports but does not control daily operations.
“Due to the current work stoppage in the port, no new trucks will be allowed to queue on port roadways,” the alert said. “Do not send trucks to the Port at this time.”
Officials with the New York Shipping Association, which runs the ports, could not immediately be reached for comment.
A spokeswoman for the association who spoke to Bloomberg News said the group was “trying to understand the reason for what appears to be a walkout and will take every measure available to ensure work resumes.”
The International Longshoremen’s Association, the union representing port workers, also could not be reached for comment, but a representative of the union told a local radio station that the dispute centered on hiring practices.
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