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Port of Albany Reports Increase in Container Traffic

Maritime Activity Reports, Inc.

November 18, 2003

Mayor Gerald D. Jennings today announced that, in its first six months, the Port of Albany’s new container service has resulted in more than 325 containers passing through the Port, generating additional work for longshore labor, and successfully opening an exciting new chapter for business at the Port. “It has been a busy six months,” Mayor Jennings said. “Since April, over 325 containers have been handled at the Port, which is great news for our longshoremen, and promises a very bright future for Port of Albany. We have a barge coming up each week now, and we expect to increase that to twice weekly in the near future.” The new container cargo at the Port includes artificial Christmas trees, olive oil, tile, safety products and logs. In addition to this cargo, the Port of Albany continues to receive all of its traditional cargo including grain, molasses, heavy lift equipment and wood pulp. “This containerized cargo represents brand new business for the Port of Albany,” Mayor Jennings said. “None of these products would have utilized the Port if we had not begun container service last spring.” “And there’s even more good news on the horizon,” the Mayor said. The container shipping giant China Ocean Shipping Company (COSCO) has established a container pool at the Port of Albany, providing shippers the opportunity to immediately access containers for loading rather than waiting until empty containers make their way up the river. “The balance of trade is essential to the success of the program,” Mayor Jennings said. “We are happy to report that, in little more than six months, we are well on our way in establishing successful two-way container traffic on the Hudson River between New York City and Albany.” Port officials are also in negotiations on similar arrangements with several other ocean carriers, including Maersk Sealand, Evergreen Lines, Hanjin Shipping and Hyundai Merchant Marine.

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