JaxPort set records for revenue and cargo in late 2024 as importers boosted orders of products ahead of possible new tariffs and the port moved equipment for a major military exercise.
Staff reported to the JaxPort board Jan. 27 that operating revenue hit a record $7.039 million in December, thanks largely to the transportation of military equipment that included tanks and helicopters for a large-scale readiness exercise.
The port reported military revenue at $1.18 million for the month, helping increase the December operating revenue 27% over the December 2023 total of $5.51 million.
Other factors included an increase in the volume of breakbulk shipments, which include such items as grains, fluids and large equipment that doesn’t fit in containers, and a higher-than-expected passenger count at the JaxPort cruise terminal.
In November, the port set a record in container volume by handling 129,778 TEUs. That acronym stands for 20-foot equivalent units, which refers to the size of a standard shipping container that is about 20 feet long, 8 feet wide and 8 feet tall.
Ports across the U.S. experienced an uptick in cargo in late 2024, partly due to major importers accelerating their buys to avoid tariff increases proposed by President Donald Trump. A shortened holiday season and shipping bottlenecks also prompted retailers to front-load their merchandise purchases.
Trump has signaled he plans to impose new tariffs on China, Mexico and Canada, the three largest trading partners of the U.S., on Feb. 1.
Eric Green, JaxPort CEO, told board members the staff is monitoring the tariff situation closely.
“The situation is still evolving,” he said, noting that Trump had threatened Jan. 26 to impose retaliatory tariffs on Colombia after that nation initially refused to accept deported migrants being returned on military planes.
The Trump administration withdrew the threatened tariffs after the two nations reached an agreement on the deportation flights.