The Port of New York and New Jersey’s total volume exceeded 700,000 TEU for the third consecutive month, claiming the top position in the country for total TEU and loaded TEU.
Record-Breaking May Volume
May’s total volume reached 790,758 TEU (439,593 containers), a 16.9 per cent increase from the 676,311 TEU (376,449 containers) recorded in May 2023.
This double-digit increase marked the sixth consecutive month of year-over-year volume growth and brought the year-through-May total to 3.5 million TEU (1.9 million containers), making the Port of New York and New Jersey the second-busiest cargo port in the nation so far this year.
In May, the port also soared to the number one spot in the country for total TEU and total loaded TEU.
Impressive Import Gains
Imports posted impressive gains in May, rising by 17.8 percent compared to the previous year. A total of 413,833 TEU (230,108 containers) moved through the Port of New York and New Jersey in May versus 351,430 TEU (195,708 containers) in May 2023. From January through May, imported loads reached 1.79 million TEU (996,228 containers), a 14.1 percent increase from the 1.57 million TEU (875,044 containers) recorded in the same period of 2023.
Exports increased 12.7 per cent in May versus the previous year, totaling 124,801 TEU (67,271 containers), compared to 110,695 TEU (59,972 containers) in May 2023.
From January through May, the Port of New York and New Jersey exported 570,901 TEU (306,219 containers), a 3.8 per cent increase from the 549,823 TEU (297,652 containers) posted the previous year.
Strong Export Growth
Export empties increased 17.4 per cent in May, totalling 250,070 TEU compared to 212,995 TEU in May 2023. A total of 1.13 million export empties were recorded from January through May, a 14.2 per cent increase from the 987,475 TEU posted in the same period of 2023. Import empties were up 40.5 per cent from January through May compared to the previous year.
Rail volume rose by 3.8 per cent from May 2023’s figure, reaching 54,641 containers. From January through May, rail volume was 6.2 per cent greater than in the same period of 2023.
Late last year, Bolloré Logistics and Sarcona developed a new sustainable last-mile logistics solution utilising an electric vehicle between New Jersey and New York.
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Source: Port Technology
