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Rail News: Shippers

PANYNJ posted cargo volume record in 2011

The Port Authority of New York and New Jersey (PANYNJ) set an all-time record for cargo volume last year, surpassing the previous record set in 2007, before the start of the recession.

The number of 20-foot equivalent units (TEUs) rose about 4 percent to 5.5 million compared with 2010 volume, PANYNJ officials said in a prepared statement. Express Rail, the port’s on-dock rail system, also set a record in 2011 by handling 422,144 containers, up 12 percent year over year, they said.

Loaded TEU imports rose 4 percent to 1.6 million, while loaded TEU exports increased 6.6 percent to 918,316.

“These records demonstrate that despite these challenging economic times, our commitment to establishing stronger import/export trade relations, retaining and attracting the highest quality operators and investing in state-of-the-art facilities with the latest technology is working,” said PANYNJ Chairman David Samson.

In the coming years, the authority plans to continue making “significant investments” in port-related infrastructure — such as $1 billion for raising the roadway of the Bayonne Bridge, making port roadway improvements, harbor depending and Express Rail work — to “ensure our continued status as an industry leader and primary source of jobs and revenue generation,” he said.

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More News from 2/21/2012