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Virginia Handles 217,900 TEUs in July; CY Growth 1.1%, Gains Made in Rail, VIP Volumes

[ August 19, 2016   //   ]

The Port of Virginia through July handled 1.5 million TEUs, which is an increase of 1.1% when compared with the same period last year; the port closed July having handled 217,910 TEUs.

“On a calendar-year basis, our rail volume is up 10%, VIP volume is up 14% and the number of TEUs handled at Richmond Marine Terminal grew 26%, so we are growing in key areas,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “We knew our July volumes would be modest, but we are preparing for our peak season and we are expecting a positive trend in the coming months.”

July’s TEU volume was down 3.6% (8,000 TEUs) compared with last July. The reduction can be attributed to a realignment of some vessel services calling The Port of Virginia. The result, Reinhart said, was nine fewer vessel calls in July.

“Fewer vessels in July and the stress put on export volumes by the strong dollar are among the primary drivers behind our July performance,” Reinhart said. “Still, we are in positive territory on a calendar-year basis, our financial picture is positive, peak season is coming and we just had two port-users announce regional projects that will add to our cargo volumes; there is a lot to be optimistic about.”

Further, Reinhart pointed out that July was a significant month for the port as it hosted its first ship – the MOL Benefactor — to transit the widened Panama Canal and the port handled its biggest vessel to date: the 10,300-TEU Hyundai Saturn.

Some of the calendar-year-to-date highlights:
•    TEUs: 1,495,990, up 1.1% 600 World Trade Center I Norfolk, VA 23510 I ph (757) 683 8000 I toll-free (800) 446-8098 I portofvirginia.com
•    Total rail containers: 310,783, up 10%
•    Total VIP containers: 22,937, up 13.8%
•    Total containers: 849,284, flat (a decrease of 123 containers)
•    Ship calls, 1,164, up 1.5%
“Our delivery of service remains strong and continues to improve,” Reinhart said. “We are focused on the future: expanding capacity across The Port of Virginia, increasing cargo velocity, creating greater efficiency and building a safe, sustainable port.”

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