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Port of Virginia FY16 volumes up; Richmond grows 13%
February 23, 2016
NORFOLK – Through seven months of fiscal year 2016, The Port of Virginia twenty-foot-unit (TEU) volumes have grown nearly 3 percent, with the strongest segment of growth being rail cargo, which is up 6.5 percent when compared with last fiscal year.
In January, the port handled 192,844 TEUs, growth of .4 percent — 848 units — when compared with January 2015. Truck volume was up 1.2 percent and ship calls were up 1.8 percent.
“Though modest, our volumes in January were the best on record for that month,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “We continue to track according to our forecast and it is our expectation that volumes for the balance of the winter and into the spring will be relatively flat.
“We are using these slower periods to refine our operation without causing disruptions in service to our users, partners and stakeholders. We will work to continue to provide a high-level of service across all areas of the operation and implement strategic changes that will generate long-term benefits.”
The fiscal-year-to-date comparisons are showing positive growth in almost all categories.
Richmond Marine Terminal traffic had its best January on record and is posting volume growth on fiscal-year-to-date basis. In January, RMT processed 1,295 containers, an increase 45 percent when compared with January 2015 and on a fiscal-year basis, RMT container volume is up nearly 13 percent.
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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 2013, The Port of Virginia provided more than 374,000 jobs and generated $60.3 billion in total economic impact throughout the Commonwealth.
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