- The Port of New York and New Jersey, a vital artery of the U.S. economy, experienced a strong month in April 2024.
- According to recent reports, the port handled a record-breaking volume of cargo, exceeding 700,000 TEUs (Twenty-foot Equivalent Units).
- This represents a significant increase of 9.4% compared to April 2023.
Record-Breaking Cargo Volume:
April 2024 marked a significant milestone for the Port of New York and New Jersey. The port successfully processed over 709,469 TEUs, surpassing its previous record for cargo handling in a single month. This achievement highlights the port’s continued importance as a major hub for international trade.
Growth in Imports and Exports:
The overall increase in cargo volume was driven by growth in both imports and exports. Imports witnessed a particularly strong performance, surging by 13% year-to-date compared to the same period in 2023. Exports also increased, albeit at a slower pace of 1.6% year-to-date.
Empty Containers on the Rise:
The report also highlighted a significant rise in the movement of empty containers. Empty export containers specifically saw a substantial increase of 9.6% in April 2024 compared to April 2023. This trend suggests an ongoing demand for shipping capacity to meet global trade needs.
Increase in Auto Volume:
Beyond containerized cargo, the Port of New Jersey also witnessed a positive trend in auto imports and exports. In April 2024, the port handled 38,104 automobiles, reflecting a substantial increase of 23.4% compared to the previous year. This growth indicates a potential rise in consumer demand for vehicles.
Positive Outlook for the Port:
The strong performance in April 2024 underscores the Port of New York and New Jersey’s resilience and adaptability. With continued growth in various cargo segments, the port is well-positioned to play a key role in facilitating international trade in the foreseeable future.
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Source: Container News
