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Financial In Market The Port of New York and New Jersey's cargo loads increased more than 5 percent last year despite the recession as the bistate region maintained its ranking as the busiest port on the East Coast, Port Authority officials said yesterday.

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%.

Oriental Trading Compared to its North Atlantic port competitors -- which saw cargo volumes decline by a combined 1.3 percent -- the Port of New York and New Jersey saw a 5.6 percent increase with growth in areas like containerized cargo and rail shipping.

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Financial Forex Forex Software "This port offers fast, direct, cost-effective service around the world and the shippers now view it as their choice destination when transporting products to market," Port Authority Chairman Jack Sinagra said in a statement.

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Trading The total volume of 73.5 million tons of bulk and general cargo last year set a new record, up 13.5 percent from the previous record of 64.8 million tons in 2000. The number of ships using the port increased 3.5 percent to 5,302 vessel calls in 2001 compared with 5,124 the prior year.

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Trading Financial System In context nationwide, the port share of U.S. total trade -- based on general cargo tonnage -- increased to 10.7 percent last year, up from 9.8 percent the year before.

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Day Trading Beverages, vehicles and machinery were the top import items last year, while waste paper, plastics and machinery were the main exports. There were nearly 510,000 new vehicle imports in 2001, but that represented a 3.7 percent decrease. New vehicle exports, however, rose 8.6 percent to 40,063.

Forex Financial Trading The A trend toward increased trade with the Far East continued last year, with the port's trade with Asia increasing to 38.1 percent of total trade, compared with 35.9 percent in 2000, according to U.S. Census data. China was once again the port's top import and export market for general cargo.

Fortune Make Option Trading ExpressRail, the port's on-dock rail terminal, also set a record in 2001 with more than 200,000 containers, up from less than 180,000 in 2000.

Science Of Financial Market Richard Larrabee, the Port Authority's port commerce director, said the growth demonstrates the agency's need to move forward with investment projects, such as deepening harbor channels and expanding marine terminal capacity.

Future Trading "Our port investment program addresses each of these issues," said Larrabee.

Financial Sales Services The projects include deepening the Kill Van Kull-Newark Bay channels to 45 feet, the channels of Port Jersey and the Arthur Kill to 41 feet, along with a harbor-wide 50-foot deepening initiative.

Commodity Trading Other planned work includes an expansion and relocation of ExpressRail, new rail services at Howland Hook and the Port Newark Container Terminal, and enhanced security measures at port facilities.

Financial Services Trading BY Ron Marsico
Star-Ledger - 4/11/2002

Topic: Transportation

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