ECONOMIC REVIEW

INCREASING MULTIMODATED TRANSPORTATION SYSTEM

The increasing multimodal transportation systems carried out by global countries is driven by efforts to improve infrastructure, sustainability, and road congestion at ports. The increasing number of ports connected to intermodal infrastructure (trains, airports, and other transportation systems) also supports port connectivity and makes sea transportation more attractive as a means of global trade. The intermodal transportation system also provides a more environmentally friendly option, especially for cargo delivered over long distances. However, this system leads to congestion on the roads by trucks due to the increasing volume of trade every year. The volume of goods shipped by intermodal is predicted to grow. Intermodal volume is forecasted to increase by 3% per year until 2024, and ports will become the main point of intermodal, especially for consumer goods, capital goods, and industrial supplies.

TRADE REBOUND

Based on data from the Port Authority of New York and New Jersey in their report “COVID-19 Pandemic Impact on Port Authority Facility Volumes Continues Into March 2021”, the Port Authority of New York and New Jersey’s website reported that March 2021 saw the highest monthly container traffic compared to March 2019 with an increase of 35%. This shows the resilience of customers demand and global supply chains when entering the second year of the COVID-19 pandemic.