NY/NJ Port Cargo Dips 6% in October 2023
The Port of New York and New Jersey has seen a continuous drop in cargo volumes over the past year.
The Numbers Speak:
- October 2023: Cargo volumes at the Port of New York and New Jersey fell by 6% year-over-year, totaling 742,571 TEUs.
- September 2023 Comparison: Despite this drop, there was a 12% increase compared to September's 660,553 TEUs.
In a turn of events, the Port of New York and New Jersey has seen a continuous drop in cargo volumes over the past year. Interestingly, when looking back to pre-pandemic levels, October 2023's figures were actually 11% higher than those of October 2019.
Looking Ahead: Infrastructure Upgrades
- $220 Million Project: Aimed at enhancing trucking operations at the Newark complex.
- Rick Cotton's Vision: The Port Authority Executive Director envisions safer, faster trucking, positively impacting the regional and national supply chain.
Rick Cotton highlights the project's potential to streamline operations and keep the port ahead of the curve in cargo handling efficiency. This investment is a strategic move to boost the port's capacity and resilience against future challenges.
Source: Supply Chain Dive