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Port Volume Growth at 6.9% for Fiscal Year to Date; Expansion Work is Underway at VIG

Posted on April 5, 2017

The Port of Virginia® moved 220,376 twenty-foot equivalent units (TEUs) in February, 351 TEUs lower than February 2016, but placing its fiscal-year-to-date growth at 6.9 percent.

The continued growth comes as the port has started the engineering and survey work on its capacity expansion plan at Virginia International Gateway (VIG); work at Norfolk International Terminals will begin this summer. These projects are the focus of the port’s plan to expand annual throughput capacity by 40 percent – 1 million containers – in three years.

“February 2016 was 29 days long versus 28, so our cargo flows remain consistent with a good balance in our export-import trade,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “We are preparing for a period of significant activity as the new alliance vessel calls begin in April and the construction work begins to progress. Our messages of expansion, our capacity to handle the large vessels and our ability to move that cargo to market by either train truck or barge are gathering traction within the industry. We remain focused on the goal of consistency during this transition period.”

February Cargo Snapshot*

  • Loaded Exports – 85,827 up 4.6%
  • Loaded Imports – 96,921 down 3.0 %
  • Containers – 124,607 up 0.1 %
  • Rail Containers – 45,044 down 1.8%
  • Barge Containers – 3,913 up 36.2 %
  • Truck Containers – 75,650 down .1 %
  • Richmond Marine Terminal Containers – 1,748 up 56%

*Percentages reflect change compared with February 2016, which had an additional day (Leap Day).
Greater detail is provided in the accompanying cargo statistics digest.

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. In fiscal year 2013, The Port of Virginia provided more than 374,000 jobs and generated $60.3 billion in total economic impact throughout the Commonwealth.

Source: The Port of Virginia

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