Port of New York and New Jersey moves the most TEUs since October 2022

Based on current port data compiled by American Shipper, the East Coast and Gulf ports are strongly favored over West Coast ports. The Port of Los Angeles announced a drop of 26% in twenty-foot equivalent units processed year over year in July. Compared to June, there was a drop of 148,744 TEUs processed in July. The ports of Savannah, Georgia, and Houston both recorded increases over the same time frame. The Port of Houston was up year over year with its July container processing.

New York and New Jersey Port officials tells American Shipper they saw a 40% increase  in shipments of apparel, toys, games and sporting equipment. The port also moved 9.4% more cargo this July compared to July 2019.

The strength of trade arriving at the Port of New York and New Jersey and the Gulf and East Coast ports continues to flow through the Panama Canal despite the current congestion. The Panama Canal is a critical trade link for U.S. shippers heading to Gulf and East Coast ports.

The Panama Canal Authority (ACP) tells American Shipper, “The Canal continues to be the preferred route for the container carrier segment which has been minimally impacted by the adjustments to draft and transits associated with the measures to conserve water.”

“New York/New Jersey, Savannah and Houston are the most important ports in the U.S. Gulf/East Coast, accounting for almost 60% of total imports, and moving 70% of Eastern Asia imports in July 2023,” the ACP added. “Currently, all of the 18 liner services deployed in the Asia — U.S. Gulf/East Coast route via Panama Canal call at either New York/New Jersey, Savannah or Houston. The Panama Canal has maintained a strong participation in this trade lane — with vessels capacity up to 16,000 TEU — because of the value offered in terms of connectivity, distance, and time”.

Even water conservation measures that have increased wait times upwards of two weeks for some vessels to pass are not dissuading shippers from using the preferred water route.

The ACP added, “Vessels that book in advance, such as containerships, are transiting as scheduled through the Panama Canal, without significant delays.”

The U.S. is the largest user of the Panama Canal, with total U.S. commodity export and import containers representing about 73% of Panama Canal traffic. Forty percent of all U.S. container traffic travels through the canal every year, about $270 billion in cargo. U.S. energy and agriculture also use this waterway to transfer goods.