The ports of New Jersey and New York are America’s busiest and largest ports of the Eastern coast. They are the nation’s third-largest port and offer access to one of the most concentrated consumer markets in the world. Twenty-foot equivalent or TEU, which is the cargo capacity unit to describe shipping containers, in 2015 was 4.9 million composing 12.1% of the North American market share.
The weather conditions delayed the cargo transit from Chicago and the Midwest to the ports causing major disruptions. CSX who services into the ports had discontinued services and destinations along with eliminating 6,700 employees and consultants. Express Rail Terminal became overwhelmed with the number of containers. And what use to take thirty minutes to access a container now takes an hour and a half.
Attempts to find a better solution to correct the problem do not show any signs of a quick recovery.
Written by Iris Arden (Ramon Inc.)
Sources:
Ramon Insurance 