The Port of Virginia began fiscal year 2016 by handling 226,000 TEUs (twenty-foot equivalent units) in July and in doing so marked the fifth consecutive month of TEU volume exceeding 210,000 units.
In July, the port saw an increase in TEU volume of nine percent, or 18,217 units, when compared with the same month last year. Truck volume grew by six percent and rail volume by 15 percent – the second highest month ever at the port for total rail containers.
“We started fiscal year 2016 with the highest volumes for TEUs, total containers and total rail containers for the month of July in the port’s history,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “At our terminals, we are beginning to process the volumes associated with the coming retail season and we anticipate this trend continuing through November. We are focused on continuing to refine our operation, delivering consistent service at the gates and moving forward on the capital spending plan for fiscal year 2016 (July 1, 2015 – June 30, 2016).”
The port started work on the first of those capital projects on July 22, when it hosted US Transportation Secretary Anthony Foxx, Gov. Terry N. McAuliffe and Virginia Transportation Secretary Aubrey L. Layne for a ceremonial groundbreaking on the expansion of the North Gate at Norfolk International Terminals. Foxx and the governor also broke ground on the I-564 Intermodal Connector during the same ceremony. Combined, the projects will increase truck velocity through NIT’s north gate, remove a significant amount of daily truck traffic from Norfolk city streets and provide motor carriers with direct, safe access to Interstate 564.
The port is also executing short and long-term plans to upgrade each of its marine terminals and its inland facilities. Moreover, it is investing in personnel and technology in order to improve service and build capacity for what it expects are continued increases in volume.
For the calendar year, the port’s TEU volume is 1.47 million, which 10 percent ahead of the same period last year. Further the port’s calendar year growth for rail and truck volume is 9 percent and 12 percent, respectively.