Container handling at the Port of New York and New Jersey (referred to as New York going forward, apologies to New Jersey) slowed slightly at the end of the year, but still improved by 6.4% on a year earlier in December, Panjiva analysis of official data shows. That brought the total for 2017 to 6.71 million TEUs, or 7.4% better than in 2016. That was led by imports of loaded containers which rose 7.7%, outpacing the 4.3% rise in exports and echoing a pattern seen in the American economy at large, as outlined in Panjiva research of January 26.

Chart segments container handling through Port of New York and New Jersey by type. Calculations based on PONYNJ data. Source: Panjiva

Panjiva data shows that imports in January likely set another record, including a 21.8% rise in handling on a year earlier. Some care should be taken with January data though due to the vagaries of the lunar new year, which falls 19 days later in 2017 than 2016. Notably though the increase in handling is largely the result of improved imports from Asia ex China.

By port of lading Shipments from China increased by just 0.8%, though it remained the largest supplying country. There is a risk of a reversal in fortunes in 2018 should the administration of President Trump implement wide-ranging tariffs against Chinese consumer goods.

There was significant growth in shipments from India (11.7% higher) and South Korea (40.4% higher). That may reflect the raising of the Bayonne Bridge in the middle of the year, and result route shifts from the major container-lines.

Chart segments incoming container traffic to ports of New York and New Jersey by country of port of lading. Source: Panjiva

Among the major container-lines MSC retained its position as number one with 627,820 TEUs shipped into the ports of New York and New Jersey, though it only expanded by 1.2% on a year earlier, suggesting no major change in route structuring. Hapag-Lloyd meanwhile increased its handling by 24.3% to reach the second place ahead of Maersk (+5.4%). The most ambitious expansion, explaining the growth in shipments from south east Asia, were COSCO Shipping (32.5% higher) and Orient Overseas (35.7%). On a post-merger basis they will be the number two shipper with 440,356 TEUs shipped.

Chart segments incoming container traffic to ports of New York and New Jersey by steamship SCAC. Source: Panjiva

COSCO’s expansion also included an increased market share of Chinese shipping to New York. From a port pairs perspective MSC’s routes from Antwerp (50,807 TEUs) and Valencia (48,282 TEUs) were the largest pairs, while COSCO’s routes from Shanghai reached 43,721 TEUs.

Chart segments incoming container traffic to ports of New York and New Jersey by steamship SCAC and port of lading. Source: Panjiva