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New York, New Jersey port authority posts mixed results in Q1


The Port Authority of New York and New Jersey registered mixed results for the first quarter: Port Authority Trans-Hudson (PATH) ridership dropped, but cargo volume at the agency’s seaports rose.

PATH ridership totaled 17.1 million, down 1.9 percent compared with first-quarter 2009's count. Loaded containers, as measured in 20-foot equivalent units (TEUs), increased 9.6 percent. Imports jumped 9.8 percent while exports climbed 9.6 percent. The gains follow a significant decline in 2009, when cargo dropped 12.7 percent.

The port authority’s fiscal condition remains sound due to numerous cost-containment efforts, officials said in a prepared statement.

Contact Progressive Railroading editorial staff.

More News from 5/28/2010