Maher Terminals, the largest container terminal in the Port of New York–New Jersey, is up for sale with a valuation exceeding $3 billion, equivalent to around €2.75 billion. The news surfaced unofficially in early February 2026, shortly after the Port Authority of New York and New Jersey renewed the concession, extending the contract until September 2063. The seller is Macquarie Asset Management, which controls the asset through its infrastructure fund Macquarie Infrastructure Partners III.
The terminal is located in Elizabeth, New Jersey, and covers an area of more than 1.82 square kilometres. It features deep-water berths and yards capable of accommodating the large container vessels deployed on transoceanic routes. Maher handles more than one third of the container volumes across the entire port system, with over three million TEU out of a total of around 8.7 million TEU annually. It is currently the only one of the five main terminals in this port complex not controlled by a shipping line.
The sale process has not yet been formally launched and no precise timetable has been defined, but preliminary contacts are under way with potential industrial and financial buyers. Parties said to be interested include major global shipping lines and international terminal operators, alongside large infrastructure funds. In some cases, joint transactions between financial investors and industrial operators are being considered, with the aim of combining capital with operational expertise.
The valuation above $3 billion reflects not only the scale of the asset but also the remaining duration of the concession. The 33-year extension provides long-term visibility over cash flows, a key factor for infrastructure funds with a low-risk profile. Regulatory and contractual stability further strengthens Maher’s position among the most attractive port assets in the North American market.
The main benchmark is the transaction completed in 2023, when two terminals in the complex, Port Liberty New York and Port Liberty New Jersey, were acquired for around $3 billion, equivalent to approximately €2.8 billion. In terms of surface area and operational capacity, Maher is larger, a factor supporting a similar or higher valuation despite a less expansionary macroeconomic environment than two years ago.
The Port of New York–New Jersey serves the largest consumer market in the United States and is a central hub for transatlantic trade and for Asia–East Coast services via Suez and Panama. Amid a reallocation of global trade flows, with growing attention on East Coast ports compared with those on the West Coast, control of a key terminal such as Maher by a shipping line would represent a significant competitive advantage.
For Macquarie Asset Management, the potential disposal forms part of a broader infrastructure portfolio rotation strategy. For the fund, the asset is considered mature, with a now consolidated risk profile, and current market conditions make it possible to crystallise value by leveraging high multiples for strategic port infrastructure, as seen in similar transactions in the United States.
A potential change of ownership would also have implications for port governance. An acquisition by a major shipping line would further reduce the number of independent terminals within the NY/NJ complex, reinforcing an already evident trend towards direct control of infrastructure by shipping companies. This scenario could affect access conditions and competitive dynamics for other carriers using the terminal.
P.R.
