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Financial In Market Container cargo at the Port of New York and New Jersey jumped almost 13 percent last year, largely because of increased trade with Asian nations, port officials said yesterday.

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Oriental Trading Commerce at the port now accounts for nearly 60 percent of all cargo handled at East Coast ports, and 13.5 percent of port cargo nationally, according to the Port Authority of New York and New Jersey. The total number of loaded and empty containers handled in 2002 at the port was in excess of 3.7 million, up from 3.3 million in 2001.

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Financial Forex Forex Software "The port is an integral link in the logistics supply chain," said Richard Larrabee, the Port Authority's port commerce director. "It provides the gateway for products that are sent to distribution centers in the New York-New Jersey region ... before being delivered to store shelves not only in our area but also around the world."

Earlier today, in the Asian trading session, the Japanese Current Account released at 1.75 T, well below the expected figure of 1.90 T. On the other hand there was some positive news for the Japanese economy as the Corporate Goods Price Index came in at 1.9 %, beating the expected figure of 1.7 %. However none of these indicators had much of an impact on the JPY whose direction is being ruled by carry trades. If stocks rally in the US and European trading sessions later on today then the JPY slip some more even though in the Asian trading it did manage to pull back some lost ground.

Trading Asia's importance to the port reflects a growing trend in recent years, according to Port Authority officials. The new figures include a 23.6 percent increase in imports from Far East Asia, with China as the port's No. 1 trading partner. Trade with China alone increased by 23 percent last year.

The Port of Newcastle remains the economic, trade and credit centre for the resource rich Hunter Valley and for much of the north and northwest of New South Wales. Newcastle is the world's busiest coal export port and Australia's oldest and second largest tonnage port, with over 3, 000 shipping movements handling cargo in excess of 90 million tonnes per annum, of which coal exports represent more than 90%.

Trading Financial System Italy is second in terms of port trade, with Germany third.

The greenback was firmer against the JPY and EUR early in Asian trading hours (this morning), prime lending problems in the US.

Day Trading Port Authority officials say they are investing $1 billion in port improvements, including dredging projects, new ship-to-rail facilities, added cargo storage space and increased security measures.

Forex Financial Trading The The port handled 588,815 automobiles last year, a 7.2 percent hike over the prior year, with the overwhelming majority of them imports.

Fortune Make Option Trading In 2002, the top three import products were beverages, vehicles and furniture. Beverage and vehicle tonnage increased by more than 8 percent each, while furniture tonnage was up more than 30 percent.

Science Of Financial Market Last year, the top three export products were wood pulp, plastic and machinery, all of which saw tonnage declines.

Future Trading "Approximately 18 million consumers throughout the region depend on the port," Port Authority Chairman Jack Sinagra said. "We will continue to make significant investments in the port to maintain our position as the East Coast's leading destination for shippers from around the world."

Financial Sales Services By Ron Marsico
Star-Ledger - 3/28/2003

Topic: Dredging

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