NYNJ continues recovery
Cargo flows at the Port Authority of New York and New Jersey’s facilities showed further signs of recovery in June 2021. While hinterland traffic via bridges and tunnel nearly reached pre-pandemic levels, the seaport set another monthly cargo record with May 2021 being the highest single-month volume so far.
The seaport’s May 2021 cargo volumes increased 23.8% compared to the levels of 2019. In May 2021, the seaport moved almost 800,000 teu.
As Port Authority facilities experience higher volumes than in previous months as broad pandemic-related restrictions are lifted across the USA, the NYNJ Authority still anticipates a negative impact on its revenues overall from closures and restrictions on movement beginning in 2020.
The Port Authority continues to project a USD 3 billion loss covering the 24-month period from March 2020 to March 2022. 2021 marks the Port Authority of New York and New Jersey’s centennial year. (cd)