The Port of New York & New Jersey has become the second largest container gateway in the Unites States with 4.995 million TEUs (twenty-foot equivalent units). Our region just beat out Long Beach (California) who has 4.911 million. Los Angeles retains the number one spot with a whopping 6.31 million TEUs.
One reason for our growth is the looming US-China trade war. Cargo owners are switching to countries unaffected by the tariffs. California’s proximity to China means they are negative affected by the sanctions.
“The trade issue is a contributing factor why we are gaining business from Long Beach.”
Rado Saragih – PANYNJ
We aren’t giving up on China, the country is still our largest trading partner with $35 billion in imports in 2019. This number is down approximately 10 percent compared to 2018. Countries such as Vietnam, Thailand and Malaysia saw double-digit growth in the same time period.
The trend of moving to the Suez Canal has shippers moving production to Southeast Asian countries and away from China.
The Port of New York & New Jersey has spent billions on new infrastructure such as raising the Bayonne Bridge, deeper dredging and greater technology for speeding up loading & unloading cargo. All this combined with 45 million consumers within a 4-hour drive of the port makes it an attractive option for shippers worldwide.