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THE Port of New York and New Jersey saw a notable uptick in activity during the initial quarter of 2024, surpassing 700,000 TEU for the first time this year, reports London's Port Technology.
The total volume surged to 701,648 TEU, a 22 per cent increase from March 2023's figure of 574,452 TEU.
This achievement brings the port's first-quarter total to 2,001,449 TEU, showcasing a 12 per cent rise compared to the same period last year.
The surge in volume can be attributed to the resumption of manufacturing overseas following the Lunar New Year holiday.
March witnessed a notable 23.5 per cent increase in imports, totaling 353,300 TEU compared to March 2023's 286,142 TEU.
Import volume for January through March reached 1,028,331 TEU, up 14.5 per cent from the same period in 2023.
However, exports remained stagnant in March 2024 compared to the previous year, recording 117,893 TEU versus 117,924 TEU in March 2023.
First-quarter exports dipped 1.4 per cent to 324,253 TEU from 328,885 TEU in 2023.
March saw a 35.1 per cent increase in export empties, totaling 228,312 TEU compared to 168,963 TEU in March 2023.
Export empties reached 642,403 TEU in the first quarter of 2024, a 14.8 per cent increase from the same period in 2023.
Import empties also saw a 54 per cent rise compared to the first quarter of 2023.
Rail volume increased 9.3 per cent in March, reaching 54,860 containers compared to March 2023.
Rail volume for January through March 2024 increased 7.9 per cent over the same period last year.
In February, Skyports Drone Services (Skyports), a drone logistics company, partnered with the Port Authority of New York and New Jersey (PANYNJ) to concentrate on middle-mile drone logistics.
https://shippingazette.com/
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