Business, Freight News, Sea

Exports drive strong cargo flows in August at Port of Virginia

[ September 21, 2018   //   ]

The Port of Virginia® processed a record-setting 258,821 TEUs in August, an increase of nearly 8% when compared with the same month last year.
“August was the second most productive month in our history and in the first two months of fiscal year 2019, our TEU volume has increased by more than 36,600 units, or about eight% (compared with FY18),” said John F. Reinhart, CEO and executive director of the Virginia Port Authority (VPA). “In addition to peak season volumes, we are seeing some inbound cargo that is moving in anticipation of expanded tariffs on select imports. Overall, our team, from Virginia Inland Port to Richmond to the Norfolk Harbor, handled the volume with efficiency and performed well.”
August’s growth was driven by exports: loaded exports were up 11% while import volumes grew by 3.4%. The port’s inland operations also grew, as volumes at Virginia Inland Port (VIP) and Richmond Marine Terminal (RMT) were up 21% and 58%, respectively. Truck volume was up 5%, rail was up 10% and total barge volume increased 27%.
Reinhart said as the port expands its container handling capacity and capability at Virginia International Gateway (VIG) and Norfolk International Terminals (NIT), volumes, efficiency and service levels will climb. At VIG, all 26 of the new rail-mounted gantry cranes (RMGs) have been delivered and the operations team is testing the equipment and preparing to bring it into service.
“The last stack at VIG comes online at VIG in January 2019, but all others will be operational by October,” he said. “At NIT, we took delivery of six more RMGs this past weekend (Sept. 8-9) and the first stack is on schedule to be completed the end of September. We’re making significant progress and are tracking for completion of work at VIG by early summer 2019 and summer 2020 for NIT. From there, we will shift our focus to the work on Wider, Deeper, Safer – 55 feet — to create the most modern, deep-water port on the U.S. East Coast.”
In October 2017, the port processed 265,490 TEUs, which to date is highest volume month on record.