Port of New York and New Jersey throughput highlights East Coast power shift

The Port of New York and New Jersey (PANYNJ) moved 792,548 TEU in October 2022.

The seaport retained its title as the nation’s busiest for a third consecutive month in a row, moving nearly 19 per cent more cargo in October 2022 compared to the volume handled during pre-pandemic October 2019.

October cargo volume decreased by 5.9 per cent compared to September 2022, when the seaport handled 842,219 TEU.

The port authority attributed the drop to the closing of seasonal peak of activity associated with holiday merchandise.

The news comes as the giants in San Pedro Bay showed constant slumping volumes – with the Port of Los Angeles registering its lowest figures in months last October.

READ: West Coast ports bested by rising eastern growth

As part of its effort to reduce congestion, PANYNJ implemented a quarterly container imbalance fee for ocean carriers.

Effective 1 September 2022, the fee was put in place to reduce the number of excess empty containers dwelling at the port.

Since the launch of the return initiative, the seaport has moved the equivalent 200,000 TEU of empty containers from its facility.