Search
 

Export Volume Bodes Well for Region's Ports

NEW YORK CITY-In the tristate region and around the US, a rise in exports will boost industrial space demand, says a Colliers/FSW report.

By Paul Bubny | Updated on March 10, 2010

NEW YORK CITY-For New York/New Jersey as with other seaports across the US, an emphasis on import traffic has proven to be a liability in the current economy. These ports have tended to perform worse than the national average for industrial markets when it comes to space givebacks. However, for this region’s ports, the tide is going back out, and that’s a good thing—in other words, the percentage of export traffic is on the rise.

Locally, about 35.7% of all port activity through New York City/New Jersey seaports in 2008 was driven by export shipping and the percentage appears to be climbing, according to a report from Colliers International. While that percentage is lower than the 57.9% of total port traffic seen in Houston, it compares favorably to the 29.9% export rate in port activity through the port of Los Angeles/Long Beach for ’08, the report states.

Figures for November 2009, the most recent month for which data are available from the Port of New York and New Jersey, show a 4.8% year-over-year increase in exports as measured in TEUs, or 20-foot equivalent units. That’s about 39.3% of the monthly total of TEUs, compared to 36.6% of the monthly tally for November 2008.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.