The Port of New York and New Jersey says volume increase is driven by overseas manufacturing restarting post-Lunar New Year.
The Port of New York and New Jersey exceeded 700,000 TEU mark in a March month for the first time in 2024, driven by a surge in volume.
Total volume reached 701,648 TEU (386,868 containers), a 22% increase from the 574,452 TEU (321,103 containers) posted in March 2023.
The port authority ascribed the increase in volume to manufacturing restarting overseas following the Lunar New Year holiday. This number brings the port’s first-quarter total to 2,001,449 TEU (1,104,759 containers), a 12% increase from the same period in 2023.
Imports rose by 23.5% in March totalling 353,300 TEU (195,796 containers), from 286,142 TEU (160,253 containers) in March 2023. From January through March, the Port of New York and New Jersey imported 1,028,331 TEU (569,160 containers), a 14.5% increase when compared to the same period in 2023.
Exports were flat in March 2024 compared to the previous year, with a total of 117,893 TEU (63,166 containers) recorded. Exports for the first quarter reached 324,253 TEU, a 1.4 % decrease year-on-year.
Year-on-year export empties increased 35.1% in March, reaching 228,312 TEU. For the first quarter of 2024, export empties reached 642,403 TEU, a 14.8% increase when compared to the corresponding period in 2023. Import empties rose by 54% year-on-year.
March rail volume increased 9.3% year-on-year, totalling 54,860 containers. Rail volume from January through March 2024 was 7.9% higher than in the same period of 2023.
In March, the Port of New York and New Jersey saw 37,890 autos move through its terminals, marking a 0.2% increase compared to March 2023. Data from the port reveals that auto volume from January to March 2024 was up by 8.5% compared to the same period in 2023.
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