Port of New York-New Jersey continues with double-digit cargo growth

The Port of New York and New Jersey’s cargo increased by 23.8% on pre-COVID-19-pandemic figures in May 2021 as it processed 796,693 TEU.

In a statement, the Port Authority said the figures represented the 10th month in a row in which its volumes have grown and an increase on the 18% above pre-pandemic levels that it grew by in April 2021.

The figures emphasise the pressures US ports are under, and while TEU increased the Port Authority saw traffic fall across down in other areas of its business, such as road traffic, which fell by 0.4%, and passenger footfall, which declined by two-thirds. Additionally, airport traffic fell by 44%.

As Port Authority facilities experience higher volumes than in previous months as broad pandemic-related restrictions are lifted across the country, the agency still anticipates a negative impact on its revenues overall from closures and restrictions on movement beginning in 2020.

The Port Authority said continues to project a $3 billion loss covering the 24-month period from March 2020 through March 2022.

In June 2021, the Port Authority said it would look to manage surging cargo traffic by using digitisation and greater trucking transparency. It announced plans to focus on core areas including outbound gate infrastructure, technology and operational enhancements to facilitate more efficient trade.

https://www.porttechnology.org/news/port-of-new-york-new-jersey-continues-with-double-digit-cargo-growth/