The ferry's history was closely tied to the Pennsylvania Railroad's station in Jersey City at Exchange Place, which gradually fell into disuse after the railroad opened the North River Tunnels and Penn Station in 1910.
In 1986 ferry service was revived and today it is operated by New York Waterway.
[4] Almost immediately and for several decades subsequently, a complicated series of legal battles broke out over who should operate the ferry, where the crossing(s) should be located and at what rate passengers and other cargo should be charged for the journey.
[6] The first steam ferry service in the world began in 1812 between Paulus Hook and Manhattan[7] and reduced the journey time to a then remarkable 14 minutes[8] (today's service is scheduled to take 13 minutes[9]).
In 1949 the final ferry service was made and passengers wanting to travel from Exchange Place to lower Manhattan were left with only the Downtown Hudson Tubes of the Hudson & Manhattan Railroad (now PATH) as a form of direct travel.