The Port of Virginia accomplished a record of handling 2.9 million TEUs for 2019 fiscal year mostly because of increased imports. The TEUs increased by 4% in comparison to the last fiscal year.
Specifically, the fiscal year closed on June 30, when the port handled 239,329 TEUs, which is an increase of about 7%, when compared to the previous June. Also, the volumes for Q4 2019 are rising ahead of the arrival of peak cargo season.
John F. Reinhart, CEO and executive director of the Virginia Port Authority stated
Our import loads were up more than 5%, truck volume was up almost 4% and barge volume was up nearly 10%. All of this was accomplished while we were under construction at VIG (Virginia International Gateway) and NIT (Norfolk International Terminals) and it was done with a continuous emphasis of safety.
He continued that this fiscal year closed successfully, marking the port’s ‘fifth consecutive fiscal year of growth.’
John G. Milliken, the chairman of the Virginia Port Authority Board of Commissioners, added that the port managed well its development as construction progress.
During construction our focus was on efficiency, delivery of service, maintaining our business and then timing growth with the completion of work at VIG.
Concluding, the port is following successful steps, as it completed the Port of Virginia’s $320 million expansion at the Virginia International Gateway (VIG) container terminal. The completion of this project is a significant milestone as the Port works to enhance cargo and container capacity at its two major terminals, with a total goal of increasing capacity by 40%.
