Port of NY/NJ Claims Title of Busiest U.S. Port in May
For the second year in a row, the Port of New York and New Jersey is claiming the title of the busiest U.S. container port in May. The East and West Coast pros have a running rivalry, but this year SoCal was hindered by the tariffs against Chinese imports which were far more severe than the Trump administration's plans for Europe.
Data released today from the Port of New York and New Jersey shows a total of 774,698 TEU in May, which compares with 716,619 TEU for the Port of Los Angeles and 639,160 TEU for the Port of Long Beach. Californians, however, argue the two SoCal ports should be calculated as one entity for the full picture on imports.
The East Coast port commented that its May performance shows “strong resilience through its diversified supply lines despite tariff-related uncertainties across the supply chain.”
The volume in the Port of New York and New Jersey was up three percent of April 2025 but it was down two percent from May 2024 when the port notes it was absorbing additional cargo volume due to the closure at the Port of Baltimore due to the collapse of the Francis Scott Key Bridge struck by the containership Dali. Compared to pre-pandemic, New York and New Jersey note volumes are up 20 percent versus May 2019.
East Coast ports are showing a strong May this year despite the uncertainty of tariff policies. Savannah, Georgia, also recorded its second-busiest May, handling 500,900 TEU. Georgia Ports noted that it was the third month in a row that the port was over half a million containers.
West Coast ports, by contrast, were calling for a comprehensive trade policy, saying that May was strongly impacted by the Trump trade policy and tariffs. The Port of Los Angeles said May 2025 was the first decline after 10 months of year-over-year growth. Los Angeles volume was off five percent year-over-year, while Long Beach recorded a more than eight percent decline in volumes for May 2025.
Both ports were confident that they would see a rebound in volumes first with the temporary agreement between the U.S. and China, and now, today, June 27, both countries confirmed the first terms of a trade framework. China said it would involve rare earth minerals and a relaxation of restrictions on technology. The White House confirmed the agreement saying it was a further step in the previous agreement for the framework reached in Geneva and called the new agreement a further “de-escalation” of trade tensions.
A further easing would be good news for the West Coast ports, which are the primary gateway for Chinese goods. Port officials are hopeful that it was a temporary situation noting that for the first five months of 2025, the two California ports remain the leaders in the U.S. Each handled approximately 4 million TEU in five months compared to just over 3.7 million in the Port of New York and New Jersey so far in 2025.
New York and New Jersey’s volume this year increased 6.5 percent over 2024 and is more than 22 percent ahead of the first five months of 2019. Los Angeles, by comparison, was up 4 percent so far in 2025, while the Port of Long Beach had the strongest start to the year up more than 17 percent in the first five months.
Norway Awards $15M in Grants for Nine Port Improvement Projects
The Norwegian government is committed to strengthening the country’s coast and maritime transport system. This year, it has selected nine port projects from a long list of proposals, which will receive government support, while it also plans future programs focusing on the green transition.
The government reports it has pledged a total of NOK 155 million ($15 million) in support for nine projects through a subsidy scheme for efficient and environmentally friendly ports. The funds will contribute to more efficient ports, better logistics, and lower emissions.
Among the proposals selected are three projects for Oslo, as well as projects in Bodø, Kristiansand, and three other ports. They include projects for digitalization, upgrading of quays, better access roads, and dredging to reduce waiting times and increase capacity.
“State support for investments in port infrastructure is crucial for realizing good projects that would otherwise not have been implemented,” said Minister of Fisheries and the Oceans Marianne Sivertsen Naess. “Efficient and environmentally friendly ports are important for businesses that depend on safe and efficient transport to and from the market.”
Norway launched the subsidy scheme for efficient and environmentally friendly ports in 2019, and it is run by the Norwegian Coastal Administration. The scheme provides financial support for up to 80 percent of the total investment and can be used for both physical facilities and digital solutions. It aims to promote green transition in the transport sector and strengthen the role of maritime transport in the national transport system.
The Norwegian Coastal Administration reports that this year it received 19 applications for more than 300 million kroner ($30 million).
In Norway’s National Transport Plan 2025-2026, the government announced that the subsidy scheme will be reviewed to align even more closely with the green transition. During the plan period, it is proposed to allocate 125 million kroner ($20 million) annually to the scheme.
Maersk Sues as Controversy Emerges Over Bidding for Santos’ New Terminal
While the final rules are still being reviewed and contested for what stands to be Brazil’s largest ever port auction, controversy is swirling around the auction, which is due to launch late this year. Reuters is reporting that Maersk’s AMP Terminals has taken the first step to contest the rules by filing a lawsuit in the Brazilian courts, while MSC’s TiL told Reuters it was also considering a legal action.
The port of Santos is not only Brazil’s largest container port, but it is also the largest in South America, and its expansion is viewed as a major prize for the international carriers. Antaq, the government agency that oversees the ports, has said Santos will run out of capacity in a matter of years and called the plans for Tecon 10 a critical step in the future of the port.
Antaq announced its plans for the auction earlier this month, and despite strong international interest, it said the bidding would be limited to exclude companies with current operations in Santos. They contend it will draw new investment to the port for a project that is expected to require an investment of nearly $1 billion on the 25-year concession.
Reuters speculates that the rules, however, open the opportunity for Asian rivals to gain a major foothold in the port and South America. China has been investing heavily in developing ports in South America, including the new Chancay megaport in Peru, which was dedicated in November 2024. China Merchants Port Holdings Co. reported in February 2025 that it completed an agreement calling for it to acquire 70 percent of Vast Infraestrutura, owner of Brazil’s only privately operated VLCC terminal.
Among the domestic competitors for the new terminal, Reuters reports Brazilian meat packer JBS could be a contender. The company took over the container terminal at Itajal in southern Brazil.
Maersk and MSC have both been posturing to expand their positions in Santos and the Brazilian market despite opposition from domestic operators. In 2023, APM Terminals announced plans to invest up to $1 billion in its terminal operations in Brazil. The company shares the operation of an existing terminal in Santos with MSC. At the end of 2023, it was reported that Brazil’s Ministry of Ports and Airports, together with Santos Port Authority, had renewed the concession for Brasil Terminal Portuário (BTP) for 20 years after a more than two-year review.
The companies committed to increasing their investment in the operations at the port of Santos. They said in 2023 that the terminal, which has a capacity to handle 1.5 million TEU, was at 95 percent of capacity.
Under the terms proposed for the new auction, companies with existing operations would only be eligible if a second round is required after no viable proposals were submitted in the first round. Even then, the operators would have to commit to divesting their other holdings in the port to win the concession for the new terminal.
Maersk declined to comment to Reuters on the legal action but said it wants “a more transparent process.” It is calling for a fair competition for the new terminal concession.
Santos Grants ADNOC Six Weeks for $19 Billion Takeover Review
Santos has granted exclusive due diligence access for six weeks to the consortium led by Abu Dhabi’s ADNOC that has made an $18.7 billion non-binding takeover bid for the Australian energy giant.
Santos, which earlier this month received – and plans to accept – the offer, has now entered into a process and exclusivity deed with XRG, a subsidiary of Abu Dhabi National Oil Company and lead investor of a consortium including Abu Dhabi Development Holding Company and Carlyle, the Australian gas giant said on Friday.
The XRG Consortium has submitted a non-binding indicative proposal to acquire 100% of the issued shares of Santos for US$5.76 (A$8.89) per share in cash. This would mean an US$18.7 billion deal, which would be the biggest cash transaction in Australia in recent history.
The XRG Consortium has also agreed to a confidentiality agreement with Santos, the Australian company said.
“Santos notes that there is no certainty that the XRG Consortium will enter into a binding SID or that a Potential Transaction will proceed,” it added.
Santos operates two large LNG facilities in Australia: Darwin LNG and Gladstone LNG. Santos is also the majority shareholders in the PNG LNG project in Paua New Guinea, after taking over Oil Search back in 2021. PNG LNG is considered one of the lowest-cost LNG projects globally and, according to Reuters, is the most attractive of its assets. The company also recently got the green light on another gas project, this time an onshore coal seam project, which will supply the local market and which will cost $2.3 billion to develop.
While the Australian company’s leadership may be in favor of the deal, regulators may have misgivings, which makes the future of the deal uncertain. Santos controls critical energy infrastructure in Australia, MST Marquee senior energy analyst Saul Kavonic said, as quoted by Reuters, which could make regulatory approval of its takeover by a foreign company a challenge.
By Tsvetana Paraskova for Oilprice.com
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