PANYNJ shatters throughput records
The Port of New York and New Jersey (PANYNJ) broke past throughput records in 2007 with 4% cargo growth, an improvement on other major US ports which declined or grew less than 1% in the same period, according to PANYNJ statistics.
The growth is expected to continue over the next ten years as the port follows through on plans designed to secure future volumes. These include the purchase of 119 acres on the eastern end of the Port Jersey peninsula for the potential redevelopment of new cargo container space, the development of an ExpressRail on-dock rail system to be ready by 2011, and the port’s $2bn, 10-year Capital Plan, which includes significant funds to upgrade the on and off-port road network.
Cargo volumes were boosted by strong trade with the Far East and Southeast Asia, with container throughput up 7.6% on the previous year.
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