Port of NY and NJ Sets Cargo Record

Fueled by a continuing increase in Asian trade, the Port of New York and New Jersey set a new cargo record during the first six months of 2006, surpassing 1.8m loaded 20-ft. equivalent units (TEUs) handled during the period for the first time. During the first half of 2006, the port’s overall loaded containerized cargo rose by 10.1 percent, exceeding projections of 7 percent growth. The increase was due primarily to Asian trade, which accounted for 48 percent of the port’s total trade in the period. Approximately 870,000 TEUs to and from Asia were handled in the port during the first half of the year. Overall, the Port of New York and New Jersey handled 1,803,526 loaded TEUs for the first six months of 2006, compared to 1,654,483 TEUs for the same period in 2005, according to the Port Import-Export Reporting System (PIERS). Imports for the period were up 11.7 percent - from 1,164,338 TEUs in 2005 to 1,291,042 TEUs in 2006. Exports rose by 6.5 percent - from 490,145 TEUs in 2005 to 512,484 TEUs in 2006.