It is a fact that "the nation’s East Coast ports continued to be battered by lower imports from overseas in June, just as their West Coast counterparts have been because of the COVID-19 pandemic.
According to Transport Topics, the Port Authority of New York and New Jersey, which operates the nation’s busiest facility on the East Coast, told Transport Topics on Aug. 8 it had a 16.3% year-over-year drop when it processed 511,306 industry-standard 20-foot-equivalent containers during that month. In June 2019, the facility moved 611,027 TEUs.
In addition to its port facilities, the Port Authority operates six airports in the New York/New Jersey area, the PATH rapid transit system, and numerous tunnels, bridges and rail yards. The Port Authority does not receive direct government aid but relies on fees it charges its business partners to cover its operating budget.
However, it is seeking $3 billion in federal assistance as it anticipates ongoing damage.
“Due to the global pandemic, Port Authority revenues were down nearly $800 million just through June of this year — an unprecedented number for this agency,” Chairman Kevin O’Toole said. “This region has been hard hit by the pandemic, and the Port Authority was not immune. Without federal assistance, the Port Authority and the region will be forced to feel the weight of this loss for years to come.”
New York/New Jersey officials recently announced they have cut $200 million in spending and continue to assess other reductions"
