August 27, 2015—The Port of New York and New Jersey handled a record number of shipping containers in July, though the pace of growth eased from the torrid rates seen in recent months.
The port complex saw total traffic rise last month to 588,918 20-foot equivalent units, the standard measure for containers, a gain of 14.1 percent from a year earlier and 4.7 percent higher than June, when volumes also set an all-time high. July’s pace of annual growth was slightly faster than the 13.5 percent growth rate the port saw through the first seven months of 2015.
East Coast ports saw a surge in container volumes in 2015 as shipping lines diverted vessels away from West Coast ports that saw disruptions tied to labor strife earlier this year. However, ports along the East Coast saw the rate of growth tail off in July. Traffic is also rebounding on the West Coast, with ports from Long Beach to Seattle reporting strong increases in container volumes last month. Together, the numbers indicate that shipping routes are slowly returning to normal, analysts say.
To read the full story, please click here.
