New York Ports Losing to Baltimore on Panama Canal Growth

The Port Authority of New York & New Jersey, enveloped in a scandal over lane closings at the George Washington Bridge that’s increased scrutiny of its management, is facing a challenge to one of its core functions as it loses business to North Atlantic shipping terminals.

While known mostly for its three New York City-area airports and Times Square bus terminal, the Port Authority runs the third-largest U.S. port by volume. It lost two percentage points of market share last year and is grappling with operational challenges 18 months before the expansion of the Panama Canal brings bigger container vessels to the East Coast.