April 2, 2018 11:15 AM, EDT

Port of New York and New Jersey on 2018 Record Pace

Port New Jersey Manhattan skyline Chris Warga, Bloomberg Finance LP

Cargo volume is on a record pace for the Port of New York and New Jersey.

The Port Authority of New York and New Jersey said in February it set a monthly record for cargo volume, and that it is on track to improve upon the record set in 2017, when it handled 6.7 million 20-foot-equivalent units, or TEUs.

During February, the port handled 521,921 TEUs, an increase of 2.9% over the previous monthly record set in 2017. The port authority said it also saw a year-over-year 3.1% increase in the number of autos it processed in February. So far in 2018, it has moved 92,961 units.

Besides a healthy economy, officials point to improvements that allow larger cargo ships to enter. The June 2017 completion of the Bayonne Bridge Navigational Clearance Project increased the clearance under the crossing from 151 feet to 215 feet. That allows ships carrying as many as18,000 TEUs to travel under its port facilities at Port Newark-Elizabeth Marine Terminal, and the Howland Hook Marine Terminal on Staten Island.