Port of New York New Jersey blame pandemic for May's 16.5pc cargo slump
THE Port Authority of New York and New Jersey's (PANYNJ) cargo volume dropped 16
THE Port Authority of New York and New Jersey's (PANYNJ) cargo volume dropped 16.5 per cent year on year in May to 537,412 TEU, authority officials have announced.
PANYNJ officials attributed the decline to the impact of the Covid-19 pandemic on the global economy. The loss brings the authority's total cargo volume for 2020 through May to 2,854,319 TEU, according to PANYNJ's Breaking Waves blog.
Imports in May totalled 267,008 TEU, down 21.9 per cent year on year. From January through May, imports reached 1,452,122 TEU, down 6.3 per cent.
Exports totalled 270,404 TEU during the month, down 10.4 per cent compared with May 2019. Exports were down six per cent to 1,402,197 TEU for the period of January through May compared with the same period last year.
Rail volume, totalling 50,499 containers, fell 9.4 per cent in May versus a year ago. However, rail volume for the January-through-May period rose 2.9 per cent compared with the same 2019 period.