The Port of New York and New Jersey saw its container volume grow by a dramatic 13 percent in 2002, sparked by a substantial increase in Asian trade. Port Commerce Director Richard M. Larrabee said the New York-New Jersey port accounted for 59.6 percent of the containerized cargo handled by all North Atlantic ports, and 13.5 percent of all U.S. ports
New York Governor George E. Pataki said, “The strength and vitality of the port has clearly given the New York regional economy a needed boost at a critical time. In addition to providing a broad selection of products for the store shelves in the nation’s biggest consumer market, the New York-New Jersey port generates a total of 228,946 full-time jobs resulting in $14.6 billion in economic activity for the region.”
Port Commerce Director Larrabee said, “The 13-percent increase in the port’s containerized cargo reinforces our belief that more and more shippers are migrating to the use of all-water services to transport their products from Asia to the Northeastern and Midwestern parts of this country.
“The port also is an integral link in the logistics supply chain,” Larrabee said.
“It provides the gateway for products that are sent to distribution centers in the New York-New Jersey region for additional value-added services before being delivered to store shelves not only in our area but also around the world.”
To support the increases in cargo volumes, the Port Authority has been involved in an aggressive $1 billion investment program, which include these components:
· Continuing to fund the local share of the Army Corp of Engineers channel-deepening projects, including deepening channels in the Kill Van Kull and Newark Bay to 45 feet, and Arthur Kill to 41 feet, and beginning the harborwide 50-foot channel-deepening projects.
· Construction of new ship-to-rail facilities at the Howland Hook Marine Terminal and the Port Newark Container Terminal, and a larger, more efficient facility at the Elizabeth-Port Authority Marine Terminal.
· Creation of additional container terminal space at Port Newark and the Elizabeth-Port Authority Marine Terminal.
· New security measures
, including improved fencing, gate monitoring and security surveillance equipment.
The Port Authority’s investments have been supplemented by substantial investments made by the port’s terminal operators, such as new gate complexes, post-Panamax cranes and yard equipment.