Business, Freight News, Sea

Business continues to grow at Port of Virginia

[ August 26, 2022   //   ]

The Port of Virginia® continues processing record-setting amounts of cargo having handled nearly 318,000 TEUs in July and in doing so making it the most productive July in the port’s history.
July’s TEU total was ahead of the same month last year by more than 24,500 units, or 8.4%. Additionally, July was the fourth consecutive month of TEU volumes exceeding 317,000 units. The combined volume of April, May, June and July is 1.3 million TEUs, resulting in the busiest four-month stretch in port history. Comparatively, the total TEU volume for the same period in 2021 was 1.17 million TEUs, a difference of more than 10%.
Stephen A. Edwards, CEO and executive director of the Virginia Port Authority, is expecting business to remain strong during the peak retail months leading up to the holiday season. This, he said, will position the port to have its best calendar year performance on record.
“We’ve brought on 10 new vessel services in the last 12 months and five of those in the last five months, so our growth is attributable to the reworked [and new] ship line services that are calling here and our efficiency is the result of an experienced team maximizing modern terminals,” Edwards said. “What we are seeing is growing interest from ship lines and cargo owners that are working to restore some predictability and reliability to their vessel services and supply chains. We have a proven trackrecord of success in what remains a challenging trade environment and the result is growth at The Port of Virginia