Tung buys into NY terminal operator. (businessman C.H. Tung acquires stake in Howland Hook Marine Terminal and Container Services Inc.)

Joss -- to Chinese, the throw of fate's dice -- has been good in recent weeks for the Howland Hook Marine Terminal.

The New York terminal's lessee received a timely infusion of capital and clout from C.H. Tung, of the wealthy Hong Kong clan, and the Army Corps of Engineers gave its long-awaited approval for berthside dredging to commence in mid-August.

There's a Cinderella story here:

Once upon a time, American Export Lines built a cargo terminal on a 147-acre tract in the northwest corner of Staten Island. The City of New York bought the Howland Hook Marine Terminal, as the facility was called, from AEL in 1973, paying $47.5 million for it.

United States Lines operated Howland Hook until the mid-80s, using the terminal as a base for its round-the-world service. Carmine Ragucci, a seasoned stevedore executive, managed the facility for USL.

In 1985, the city leased Howland Hook to the Port Authority of New York and New …