The Port of Virginia’s® calendar-year-to-date growth is nearly 4 percent ahead of the same period last year, an increase of more than 98,000 TEUs, the company said in its release.
November’s cargo volumes were down more than 5 percent – 12,900 TEUs — when compared with November 2018 and are the result of a late Thanksgiving holiday that pushed some vessel calls into December, the ongoing tariffs and overall trade uncertainty. Still, the port is on course in 2019 to its fifth record-setting year for cargo growth, said John F. Reinhart, the CEO and executive director of the Virginia Port Authority. There is still a month to go in the year.
On a calendar year-to-date basis (Jan. – Nov.) overall TEU volume is up 3.8 percent; rail, flat; Virginia Inland Port, down 12 percent; total barge moves, up 18.5 percent; Richmond Marine Terminal volume, up 18.7 percent; and truck moves, up 3.6 percent. Breakbulk tonnage and vehicle units were down 14 and 18 percent, respectively.
Turn-times for motor carriers, dwell-time for rail cargo, and productivity at the berth continue to improve and another initiative, the channel widening and deepening project is underway. This project, Reinhart said, will hold even more benefits for customers, the cargo owners and port users.
November Cargo Snapshot
Total TEUs – 226,982, down, 5.4%
Loaded Export TEUs – 77,241, flat
Loaded Import TEUs – 103,410 down, 7.8%
Total Containers – 126,063, down 5.7%
Virginia Inland Port Containers – 1,996, down 29.8%
Total Rail Containers – 40,425, down 10.7%
Total Truck Containers – 81,036, down 4.7%
Total Barge Containers – 4,602, up 35.4%
Richmond Barge Containers – 3,069, up 35.9%
The Virginia Port Authority (VPA) is a political subdivision of the Commonwealth of Virginia. The VPA owns and through its private operating subsidiary, Virginia International Terminals, LLC (VIT), operates four general cargo facilities Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal and the Virginia Inland Port in Warren County. The VPA leases Virginia International Gateway and Richmond Marine Terminal. An economic impact study from The College of William and Mary shows that in fiscal year 2018, The Port of Virginia helped to create more than 397,000 jobs and generate $92 billion in total economic impact throughout the Commonwealth.