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5/7/2024
The Port of New York and New Jersey ended first-quarter 2024 with a bang. Volume in March totaled 701,648 20-foot equivalent units (TEUs), up a whopping 22% year over year and the most significant gain in the quarter, Port Authority of New York and New Jersey (PANYNJ) officials said in a press release.
For the month, imports soared 23.5% to 353,300 TEUs, exports totaled a flat 117,893 TEUs and empty container volume shot up 35.1% to 228,312 TEUs.
"This increase in volume is due to manufacturing restarting overseas following the Lunar New Year holiday," PANYNJ officials said.
In Q1, the port logged 2,001,449 TEUs, a 12% increase compared with volume in the same 2023 period. Imports jumped 14.5% to 1,028,331 TEUs, exports dipped 1.4% to 324,253 TEUs and empty container volume climbed 14.8% to 642,403 TEUs.
Rail volume increased 9.3% year over year in March to 54,860 containers, helping the port post a 7.9% overall rail volume gain in Q1. The East Coast's largest container port is served by CSX and Norfolk Southern Railway.
Meanwhile, the port's auto volume only inched up 0.2% to 37,890 in March, but rose 8.5% in the quarter versus the same 2023 figures.