Port officials today announced cost reductions for use of the Port of New York and New Jersey.

Effective May 1, 2016, the container charge for containers whose destination lies within 260 miles of the port has been reduced by 5.3 percent from $94.00 to $89.00 in all trades except in the Bermuda Trade, which retains its rate of $25.00.

The new rates further a trend to reducing operational costs at the Port of New York and New Jersey while welcoming new business and demonstrating loyalty to the old.

Cargo containers whose destination lies within 260 miles of the port comprise approximately 60 percent of all containers handled, making this a significant rate reduction for international carriers.

The Port of New York and New Jersey is the third largest port in the U.S. and the largest on the east coast of North America. Companies that operate in the port and related businesses support more than 336,600 jobs in the region and $21.2 billion in personal income.

The latest study released by the New York Shipping Association, Inc. (NYSA) in July 2014 noted that the port generates more than $7.1 billion in tax revenue to federal, state, and local governments.

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