The Port of Virginia posts record of 2.9 TEUs for fiscal year 2019
The Port of Virginia® completed fiscal year 2019 (FY19) having handled a record 2.9 million twenty-foot equivalent units (TEUs), which is a volume increase of 4 percent when compared with last fiscal year.
The port’s fiscal year closed June 30, and in that month the port handled 239,329 TEUs, which is an increase of nearly 7 percent – 15,490 TEUs — when compared with last June. The port’s volumes in the fourth quarter of FY19 have been increasing ahead of the arrival of peak cargo season.
The expansion at Norfolk International Terminals is progressing according to schedule, Reinhart said. There are 12 new container stacks served by 24 new rail-mounted gantry cranes already in service. Work on phase II of the stack yard expansion (six stacks) began in December 2018 and is nearing completion; work on phase III (six stacks) began in June; and phase IV (six stacks) is set to begin in September. Six new rail-mounted gantry cranes arrived at NIT today (July 24).
Reinhart said The Port of Virginia made significant gains during the last 12 months well beyond construction and increased volume. He pointed to having handled more than 270,000 TEUs in a single month, an all-time high; marking 10 years of success with the Richmond barge service; securing a federal grant to help expand capabilities at Virginia Inland Port; successful implementation of the reservation system for motor carriers; and the smooth delivery of four new ship-to-shore cranes, which are part of the VIG project.