Virginia Port Sees 2% Volume Growth
The Port of Virginia processed 219,398 twenty-foot equivalent units (TEUs) in May, bringing the port to 2 percent growth in TEU volume for the calendar year and 2.6 percent growth in the fiscal year, which ends July 1.
“Volume for May was not as high when compared with last year, but that was anticipated,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “We are still tracking for a very modest gain for the fiscal year and our volume expectations for the balance of the calendar year are realistic.
“We’ll end the fiscal year in positive territory and our effort will be to maintain and build upon that position as we begin
to look at on-terminal construction projects that are aimed at increasing capacity – one million containers -- and driving
greater productivity at The Port of Virginia.”
The first large-scale capacity project will be to rebuild the upland operation at the South Berth of Norfolk International
Terminals (NIT). Reinhart said the $350 million project will increase annual throughput capacity at NIT by 46 percent, or
696,000 TEUs
In May, rail volume was up 8 percent and conversely, truck volume dipped 12.6 percent. Richmond Marine Terminal (RMT)
barge traffic was up 28.6 percent and containers moving across Virginia Inland Port (VIP) were up 2.5 percent.
On a fiscal-year basis (July 1 – May 31) the port’s rail container volume is up 9.4 percent; ship calls, up 2 percent; VIP
containers up, 14 percent; RMT barge traffic up 20.5 percent; and vehicle units processed at Newport News Marine
Terminal, up 11.3 percent.