Cargo Boom Lifts Port of NY/NJ in International Shipping Rankings
The Port of New York and New Jersey has benefited from a growing trend among ocean carriers to move cargo via the US East Coast to avoid West Coast congestion, placing the port in eighth position on the ranking. of the Xinhua-Baltic Index.
The port has been a big winner in container trade as more logistics companies branch out away from the West Coast, where ports struggle with congestion and inefficiency. Its throughput overtook Athens/Piraeus to take eighth place in the index, which provides an independent ranking of the performance of the world’s largest seaports/trading centers.
In 2021, New York/New Jersey handled just under nine million TEUs and has set a goal to increase its cargo throughput to 17 million TEUs by 2050, according to its port master plan. In recent years, significant investments to modernize the port’s infrastructure have enabled it to meet the growing needs of the shipping industry and create a significant economic contribution to the region. This year, the facility continued to see an increase in monthly freight volumes, with an average growth of 11% for the January-May period.
The world’s top 10 maritime hubs in Inded remain largely unchanged from 2021. The ranking includes four Asian, four European, one Middle Eastern and one American locations.
Once again, Singapore secured its top spot as the top slot for the ninth consecutive year. The center has earned its long-standing spot at the top of this index due to its large, established ecosystem of professional global maritime services, good governance, ease of doing business and a large, strategically located port.
The city-state scored 94.88 points out of a possible 100, far ahead of London, which is a stronghold of maritime professional services with 83.04 points. Shanghai, home to the world’s largest container port, took third place with 82.79 points.
“As the maritime sector continues to build its resilience and capacity for anticipation, we will continue to work with our maritime colleagues around the world to drive transformation, particularly in the areas of decarbonization, digitalization and the development of talents,” said Ms. Quah Ley. Hoon, CEO of the Maritime and Port Authority of Singapore.
The index shows that Hong Kong, Dubai, Rotterdam and Hamburg maintained their positions in fourth, fifth, sixth and seventh place respectively. Although Athens/Piraeus dropped a point to ninth place, they remain solid with good throughput numbers.
Like last year, the Chinese port of Ningbo-Zhoushan ranks tenth, thanks almost entirely to its status as the third-busiest container port in the world.
Maritime hubs were rated based on containerized freight throughput, number of cranes, length of container quays and channel depth. Other factors include the strength of maritime business services, including ship brokerage, ship management, ship finance, insurance and legal, as well as business environment factors such as tariffs, electronic government services and logistics performance.