Cargo volumes at the Port of New York and New Jersey fell 22% year-over-year to 660,553 TEUs in September, as volumes normalize after record highs last year.
"For the year so far, as well as for the month of September, the seaport was the nation’s third-busiest container port, which reflects a resetting of cargo volumes following record setting years in 2021 and 2022.” the port said in a press release.
The port’s cargo surge had resulted from multiple factors, including cargo diversions from the West Coast and demand growth in East Coast population centers after the pandemic. The East Coast port saw volumes rise 6% in September 2023 compared to the same month in 2019.
Yet volumes are showing signs of slowing down, even compared to last month: The port saw cargo activity drop 0.3% compared to August 2023 figures, when volumes reached 662,740 total TEUs.