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GLOBAL BUSINESS

GLOBAL BUSINESS

The Port of New York and New Jersey : A Vital Import Gateway

In 2019 New Jersey exported $ 35.7 billion in goods throughout the world
By Diane C . Walsh Contributing Editor

The Port of New York and New Jersey is the biggest operation of its kind on the East Coast and even though it is not experiencing the delays that are hampering facilities in California , officials report it is grappling with challenges caused by the pandemic .

More than 7.5 million TEUs — the dimensions of a 20‐foot shipping container used to measure port capacity — moved through New York in 2019 , making it the third busiest operation in the United States , according to Nicholas Raspanti , the mid‐Atlantic accounts manager in the port department at the Port Authority of New York and New Jersey .
He said the port ’ s success is built on easy access to markets and consumers . Goods can reach 13 million consumers in an hour and more than double that in two hours . All 3,000 acres are owned by the Port Authority of New York and New Jersey , which is the landlord for the six marine terminals on site .
Because of the access to consumers , the port is predominantly an import gateway , Raspanti said during a special presentation before the Commerce and Industry Association of New Jersey , a business advocacy group . When the pandemic was surging in the third and fourth quarters of last year , there was tremendous demands for imports . “ It put a strain on available equipment ,” Raspanti said , explaining the imbalance made it difficult for exports to get goods to market .
Goods can reach 13 million consumers in an hour and more than double that in two hours .
Unlike the port ’ s biggest competitors in Long Beach and Los Angeles , however , Raspanti said New York has not experienced the delays that have left vessels waiting in the water for a week or more at the California ports .
Raspanti and Michel Wouters , director of project logistics at Worldwide Logistics Group , said the demand and shortage of equipment have driven up prices . Wouters , who has 40 years of shipping experience , said the pandemic also caused a rate hike in air freight since the few carriers in operation are faced with overwhelming volume and backlog . Even before the pandemic , trucking was suffering due to a shortage of long‐haul drivers , and now the situation has worsened , he said . “ Needless to say , costs are up in all trade lanes ,” Wouters added .
Paul Harencak , an executive at LPS Industries , a manufacturer of flexible packaging in Moonachie , who also heads the CIANJ manufacturing forum , asked the speakers what is being done to curb the soaring prices . Raspanti emphasized the Port Authority ’ s role is limited as landlord but it has been holding bi‐weekly
meetings of all stakeholders . “ It ’ s important to stay engaged and , where we can , influence decision making and support private operations ,” he said .
CIANJ President Anthony Russo invited Susan Widmer , director of the U . S . Commercial Services , and William Spear of the international business advocacy offices with the New Jersey Business Action Center , to also participate in the program .
In 2019 New Jersey exported $ 35.7 billion in goods throughout the world , with Canada and Mexico as its leading markets . Chemicals were the biggest exports , followed by computers and electronic products .
Widmer explained her agency has offices in Newark and Lawrenceville and works with smalland medium-size businesses to increase U . S . jobs and exports . Her staff has access to a global network of trade professionals through its morethan 100 offices nationwide . As part of the U . S . Department of Commerce , Widmer explained they have offices in 80 countries , located in U . S . embassies and consulates , providing a global network of approximately 2,000 trade professionals to connect U . S . companies with international buyers . Spears said the state has grant funding available for foreign trade missions , trade show exhibits and even web site design .
A myriad of services is provided by Widmer and her staff , including trade counseling , market intelligence , business matchmaking and commercial diplomacy . For more information go to www . trade . gov .
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Photo : Getty Images / iStockphoto
More than 7.5 million TEUs — the dimensions of a 20‐foot shipping container used to measure port capacity — moved through New York in 2019 , making it the third busiest operation in the United States
Photo : Getty Images / iStockphoto
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