The operator of the New York Cross Harbor Railroad purchased a majority interest in J.S. Transportation, a regional trucking company based in southern New Jersey.
Terms of the noncash transaction between New York Regional Rail Corp. and J.S. Transportation were not released.
The move extends the transportation capabilities of the harbor railroad, which anticipates a significant increase in intermodal freight shipments after the takeover of Conrail by CSX Corp. and Norfolk Southern Corp. on June 1.
A spokesman for the railroad, which operates four three-track carfloats from Greenville Piers in New Jersey to three freight terminals across New York Harbor, said the company will provide rail-to-truck, truck-to-rail and ship-to-rail services throughout the port area and parts of the East Coast.
“This is a marriage between long-haul and regional rail and short-haul trucking,” said Gregory C. Kisloff, director of public and government relations for NYRR. “We’ve been waiting for 10 to 15 years for this to happen, and if we do the right thing, it will be a dream come true.”
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