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2/7/2024
A the recent State of the Port Address, Port Authority of New York and New Jersey (PANYNJ) officials said the seaport has emerged stronger after a few years of turbulence.
PANYNJ Director Bethann Rooney said the ports have "breathing room" to prepare for the future they could see during the pandemic.
"We’re exactly where all of the forecasts indicated that we were going to be," Rooney said in the port's Breaking Waves blog. "We’ve had a look at what our future is like, and we have six or seven years to prepare to handle that volume again."
The preparation includes multiple capital improvement projects kicked off in 2023. One is the port’s on-dock ExpressRail system that's being upgraded as the final design of the Southbound Connector to give freight-rail operations additional flexibility and capacity. The design is expected to be completed by midyear, with construction to follow.
Cargo volume is expected to continue to grow in 2024, as bloated warehouses empty and retailers return to a regular restocking rhythm, the release said. But in a global context, the year is already presenting new challenges at two critical shipping passages.
"If you do anything, pray for rain in Panama," Rooney said, alluding to drought conditions at the Panama Canal. "But probably more important than praying for rain in Panama is praying for peace in the Middle East."