Port Newark Container Terminal handles boxed freight at one of the busiest ports in the US. In addition to moving containers to and from ships, Port Newark Container Terminal offers a rail terminal to accommodate intermodal freight transportation. The company operates under a long-term lease from the port's owner, The Port Authority of New York and New Jersey. Port Newark Container Terminal is owned by Ports America, Inc., a subsidiary of American International Group (AIG). AIG acquired Port Newark Container Terminal, through PineBridge (formerly AIG Investments) in 2007 as part of its purchase of the US port operations of DP World.