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Port Of New York And New Jersey Reports First Slowdown After 13 Months Of Torrid Growth

Courtesy of ZeroHedge View original post here.

by Container News,

The Port Authority of New York and New Jersey (PANYNJ) has registered a stable growth in its container volumes during September completing 724,418TEU, which translates to a slight increase of 0.5% year-on-year. This number brings the total throughput for 2021 through September to 6,659,082TEU with more than 3.69 million lifts.

"For the first time in more than 13 months, cargo volume at the Port of New York and New Jersey rose at a slower pace in September," noted the port authority in a statement, while the US port had been experiencing more than a year of unprecedented double-digit monthly growth in cargo activity.

However, while the number of vessel calls in the month of September was consistent with previous months, there was a notable decrease in vessels with a capacity of 9,000TEU or more that called the port that month.

Imports at the Port of New York and New Jersey reached 379,190TEU in September, reflecting a 1.2% increase over the same month of 2020, while exports declined by almost 13% year-on-year, totalling 99,893TEU.

Furthermore, export empties rose in September by 6% over the last year's same month, totalling 243,367TEU.

Comparing the numbers for the January – September period 2021 to the previous year’s figures, we see imports at the United States' third-busiest port to rise by 23% and exceed 3.41 million TEU. Additionally, exports have reached 1,014,189TEU which is a 3.5% increase over the first nine months of 2020.

During the same period, export empties surpassed 2,211,600, representing a significant year-on-year growth of 37.5%.

Rail volume declined in September with 55,240 containers moving by trains through the Port of NYNJ, showing a 13.7% decrease from the previous year’s September. However, through the January – September period, rail volume is increased by 4.3% compared to last year's corresponding period.


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