Peak season for the Port of New York and New Jersey has arrived. Not only did the port take the top spot for containers moved in July, but it was the port’s highest monthly total since October 2022. A total of 725,479 TEUs were processed in July.
Rick Cotton, Port Authority executive director, tells American Shipper it was extremely gratifying to see the strong performance that made the port the busiest in the nation for July.
“The Port of New York and New Jersey’s strong performance in July as the peak shipping season gets underway underscores our business partners’ confidence in the East Coast’s biggest port to move their goods quickly and reliably,” Cotton said. “Our deep relationships and collaboration with all links of the regional supply chain continue to reap tangible benefits for our stakeholders who have retained their business here in New York-New Jersey even as the impact of softening global trade is felt elsewhere.”
In July the seaport saw its cargo volume jump by 16.2% compared to June.
Based on current port data compiled by American Shipper, the East Coast and Gulf ports are strongly favored over West Coast ports. The Port of Los Angeles announced a drop of 26% in twenty-foot equivalent units processed year over year in July. Compared to June, there was a drop of 148,744 TEUs processed in July. The ports of Savannah, Georgia, and Houston both recorded increases over the same time frame. The Port of Houston was up year over year with its July container processing.
New York and New Jersey Port officials tells American Shipper they saw a 40% increase in shipments of apparel, toys, games and sporting equipment. The port also moved 9.4% more cargo this July compared to July 2019.
The strength of trade arriving at the Port of New York and New Jersey and the Gulf and East Coast ports continues to flow through the Panama Canal despite the current congestion. The Panama Canal is a critical trade link for U.S. shippers heading to Gulf and East Coast ports.
The Panama Canal Authority tells American Shipper, “The Canal continues to be the preferred route for the container carrier segment which has been minimally impacted by the adjustments to draft and transits associated with the measures to conserve water.”
Even water conservation measures that have increased wait times upwards of two weeks for some vessels to pass are not dissuading shippers from using the preferred water route.
The U.S. is the largest user of the Panama Canal, with total U.S. commodity export and import containers representing about 73% of Panama Canal traffic. Forty percent of all U.S. container traffic travels through the canal every year, about $270 billion in cargo. U.S. energy and agriculture also use this waterway to transfer goods.
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