Port of New York and New Jersey surpasses 700,000 TEU

The Port of New York and New Jersey ended the first quarter of 2024 with a surge in volume, having surpassed 700,000 TEU for the first time in 2024.

Total volume reached 701,648 TEU, a 22 per cent increase from the 574,452 TEUs posted in March 2023.

This number brings the port’s first-quarter total to 2,001,449 TEU, a 12 per cent increase from the same period in 2023.

This increase in volume is due to manufacturing restarting overseas following the Lunar New Year holiday.

Imports rose by 23.5 per cent in March totalling 353,300 TEU, from 286,142 TEU in March 2023. From January through March, the Port of New York and New Jersey imported 1,028,331 TEU, a 14.5 per cent increase from the 898,437 TEU imported in the same period of 2023.

Exports were flat in March 2024 compared to the previous year. A total of 117,893 TEU were recorded in March 2024 versus 117,924 TEU in March 2023.

Exports for the first quarter reached 324,253 TEU, a 1.4 per cent decrease from the 328,885 TEU recorded in the first quarter of 2023.

Export empties increased 35.1 per cent in March, totalling 228,312 TEU compared with 168,963 TEU in March 2023.

For the first quarter of 2024, export empties reached 642,403 TEU, a 14.8 per cent increase from the 559,542 TEU recorded during the same period of 2023. Import empties rose by 54 per cent during the first quarter of 2024 compared to the same period in 2023.

March rail volume increased 9.3 per cent from March 2023’s figure, totalling 54,860 containers. Rail volume from January through March 2024 was 7.9 per cent greater than in the same period of 2023.

In February, Skyports Drone Services (Skyports), a drone logistics company, partnered with the Port Authority of New York and New Jersey (PANYNJ) to focus on middle-mile drone logistics.

Source