THE PORT AUTHORITY OF NY & NJ

Press Release Article


CARGO GROWTH AT PORT OF NEW YORK AND NEW JERSEY OUTPERFORMS SLUGGISH ECONOMY -- General Cargo Volume Up More Than 13 Percent for First Quarter of 2001

Date: Jun 20, 2001
Press Release Number: 90-2001

Despite a sluggish national and international economy, an increase in trade with Asia has helped drive overall general cargo volumes in the Port of New York and New Jersey up by more than 13 percent in the first quarter of 2001.
Total general cargo rose from 4,288,000 metric tons in the first quarter of 2000 to 4,866,000 in 2001, a 13.5-percent increase, according to data from the U.S. Census Bureau. General cargo imports rose by 6.4 percent, from 3,122,000 metric tons during the first quarter of 2000 to 3,320,000 metric tons in 2001. General cargo exports rose 32.5 percent, from 1,166,000 metric tons in the first quarter of 2000 to 1,545,000 metric tons in 2001.

New York Governor George E. Pataki said, “During the first three months of this year, the value of all cargo that flowed through the port exceeded $22 billion, a 13-percent increase over 2000 activity. While this is good news for New York and our port, we must continue our fiscally sound policies to minimize the impact of the slowing national economy on all New Yorkers.”

Acting New Jersey Governor Donald T. DiFrancesco said, “These numbers clearly show that the Port of New York and New Jersey helps drive New Jersey’s economy. This growth benefits everyone in the region by ensuring that consumers have access to a plentiful supply of reasonably priced goods, and that jobs are created at the port and in port-related industries.”

Port Authority Chairman Lewis M. Eisenberg said, “The flow of cargo through the New York and New Jersey Port has increased dramatically in recent years, evidence of the investments we continue to make in water and landside facilities. While many economic indicators have been stagnant, our ports continue to thrive.”

Port Authority Executive Director Neil D. Levin said, “We have seen a 14.1 percent increase in containerized cargo from Far East Asia based on U.S. Census data, which has allowed our port to continue to flourish during this rough economic period. The carriers are recognizing what the Port Authority has been promoting for some time –that there are major benefits to using all water service through the Suez and Panama canals to transport goods to the East Coast of the United States.”

Port Commerce Director Richard M. Larrabee said, “Obviously, these are only first quarter numbers and we cannot predict what the port’s performance will be in the future. Nevertheless, the continuing strong performance of the port over the past several quarters is an indication that we need to continue work on our ambitious $1.8 billion, five-year redevelopment that will maintain the world-class service provided in the Port of New York and New Jersey.”

According to data reported by the Port Import-Export Reporting System (PIERS), exports from the New York-New Jersey ports measured in 20-foot equivalent units (TEU’s) rose 14.35 percent during the first quarter of 2001 compared to the same period in 2000. Container volumes for exports rose from 176,695 TEU’s during the first quarter of 2000 to 202,058 TEU’s in 2001. Container volumes for imports rose from 347,398 TEU’s in the first quarter of 2000 to 369,340 in 2001, a 6.32-percent increase.

The rise in general cargo exports was driven by increases in wood pulp, up 46 percent over 2000; plastics, up 75 percent over 2000; and machinery, up 28 percent over 2000.