The Port of New York and New Jersey has marked a significant milestone in the first quarter of 2024, surpassing 700,000 TEUs in March for the first time this year, reaching a total of 701,648 TEUs. This figure represents a 22% increase from March 2023, bringing the port’s total for the first quarter to 2,001,449 TEUs, which is a 12% increase over the same period last year. The surge in volume is attributed to the resumption of manufacturing overseas following the Lunar New Year holiday.
The substantial increase in imports, which rose by 23.5% to 353,300 TEUs in March, from 286,142 TEUs the previous year, highlights the port’s growing role as a critical hub in global trade. Exports remained stable, with 117,893 TEUs in March 2024, nearly unchanged from March 2023, while export empties saw a significant 35.1% increase in March. The rail volume also increased by 9.3% compared to March 2023, reinforcing the port’s efficient multi-modal connectivity.
Credits:
- Port Technology International, “Port of New York and New Jersey surpasses 700,000 TEU”, Port Technology International Article.
