The Port of New York and New Jersey announced that it moved “the most cargo in the nation in February 2023 and year-to-date in 2023.” A statement issued by the port authority disclosed that the port handled over 571,000 TEU in February, exceeding the amount moved by Los Angeles Port by more than 83,000 TEU.

This progress allowed the port to regain the title of “the busiest port in the nation” for the month of February after it came second in January 2023. “The Port of New York and New Jersey is again No. 1 in the nation,” said Port Authority Chairman Kevin O’Toole.

According to the port authority, February is usually “the slowest time of the year for all US ports” due to production slowdowns and China’s Lunar Year holiday. “After years of unprecedented cargo growth, we are using this traditionally slow period to work with our port stakeholders who need to increase capacity throughout the regional supply chain,” added O’Toole.

Analysts had earlier expressed that the effects of the Chinese holidays and the market drop are usually felt after the month of January – when the Chinese New Year is usually celebrated. February figures were a reflection of this prediction, as the handled volume at the NY/NJ port dropped from 645,430 TEU in January to 571,177 TEU in February.

Looking ahead, the port’s authority forecasts stronger volumes in the upcoming months. O’Toole told the media, “We expect a stronger second half of the year, as we have been in discussions with many importers that shifted volume to us from elsewhere and are now committed to keeping that volume in our gateway.”