Top 5 US Ports for the Best Trans-Atlantic Traders
Staff Content Writer
August 9, 2021 • 1 minute read
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With COVID-19 lockdowns loosening, US and European economies, which are two of the world’s largest economies, started to reopen the trans-Atlantic trade and showed better-than-expected growth in May 2021. Westbound trans-Atlantic trade rose 10% in the first 5 months of 2021, while eastbound volumes ticked up 2.6%.
Port of New York and New JerseyThe Port of New York and New Jersey remained top destinations for both inbound and outbound trans-Atlantic trade. It increased 5% YoY in the import market for the period, despite its share slipping from 32% in the first 5 months of 2020 to 30.5% this year.
Port of VirginiaThe Port of Virginia ranked second and third in inbound and outbound trade respectively. It’s noteworthy that the port brought the terminal’s annual capacity to 2.2 million TEU and allowed it to service vessels with up to 18,000 TEU with $375 million Norfolk International Terminals (NIT) expansion.
Port of SavannahThe Port of Savannah installed 3 new berths to its Garden City Terminal in fall 2019, allowing it to service three 14,000 TEU ships simultaneously, which make it ranked third in outbound trans-Atlantic trade, increasing 9.5% in volume to last year. FIGURE 1 FIGURE 2
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