Port of N.Y. and N.J Sets New Cargo Volume Record

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The Port Authority of New York and New Jersey set a marine cargo volume record in 2015, it said Monday.

In total, 3,664,013 cargo containers were handled last year at the nation's third largest port, 10.4% above the 2014 numbers, according to the port authority.

The Port Authority said the two consecutive years of record cargo growth have resulted in "substantial" increases in jobs and economic activity associated with port activity. The port generates 336,000 full-time jobs in the New York City region marking a 13% increase from 2013, according to a recent study by the New York Shipping Association.

"We want to be the best maritime gateway in the United States, and these impressive numbers show we are making progress to achieve that goal," said Port Authority Port Commerce Director Molly Campbell in a statement. "However, for us to efficiently handle the larger ships and cargo volumes that want to come here, we must join with our stakeholders to continue to implement strategies to improve port performance."

The Port Authority is rated Aa3 by Moody's Investors Service and AA-minus by Standard & Poor's and Fitch Ratings.

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Transportation industry New York New Jersey
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