This commentary appeared in the print edition of the Jan. 6, 2020, Journal of Commerce Annual Review and Outlook.
As global trade has expanded, supply chains have correspondingly evolved beyond just “port of load to port of discharge” logistics.
For ports, this places a greater emphasis on providing service capability beyond just cargo capacity. Indeed, ports not only must be poised to accommodate cargo growth, but must also be more engaged and assertive in developing capability and efficiencies throughout the port complex.
At the Port of New York and New Jersey, significant portwide investments over the past two decades have prepared our gateway for the record volumes we and our terminal operating partners are handling today. Infrastructure improvements, equipment enhancements, and collaboration with key stakeholders have led to consistent volume growth and expanded markets served by the port. Our geographic location, coupled with the commercial vibrancy of the region, is propelling the port to be extremely strategic in the deployment of its real estate portfolio. Our recently released Port Master Plan put forward a vision of how best to use our existing land assets over the next 30 years. This takes into account not only the continuation of larger vessels calling on the port and increased intermodal activity, but also fluidity of cargo movements across the port complex.
As we look to 2020, evolving cargo sourcing centers and geopolitics will certainly inform the global trade landscape. The fact remains, however, that global trade has been and will continue to be resilient.
While no singular challenge dominates our planning horizon, the Port of New York and New Jersey, together with our partners, will work collaboratively to improve air quality through the deployment of newer and more efficient cargo handling equipment. Where technology allows, we will be moving toward electric power and reducing diesel emissions associated with port operations.
Lastly, the Port of New York and New Jersey not only will continue to plan with a keen awareness of staying ahead of the capacity curve with respect to cargo demand, but will be mindful that how the port complex works for the thousands of daily users is of equal importance.