The Port of New York and New Jersey, a consistent third-place finisher among American container gateways, achieved a remarkable milestone in May. It surged to the top spot, surpassing its previous position.
According to the Port Authority of New York and New Jersey, the East Coast port handled an impressive 774,698 twenty-foot equivalent units (TEUs) in May. While this figure represents a slight 2% decline compared to the same month last year, it stands as a significant improvement, surpassing the pre-pandemic May 2019 performance by 20%.
However, the port acknowledged the challenging comparisons made in the previous year. These comparisons were influenced by the diverted traffic that occurred following the collapse of the Key Bridge, which resulted in the closure of the Port of Baltimore.
From January through May, the port demonstrated remarkable growth, handling a total of 3,729,611 TEUs. This figure represents a substantial 6.5% year-over-year increase and a remarkable 22.6% improvement compared to the performance in May 2019.
Despite these positive developments, tariff concerns posed a challenge to box flows at the busiest gateways in May. The Port of Los Angeles, for instance, experienced a 5% year-over-year decline in volumes, resulting in a total of 716,619 TEUs handled. Similarly, the Port of Long Beach also observed a 8.2% year-over-year decline, with a total of 639,160 TEUs handled.
