The U.S. Port of Virginia began its fiscal year 2016 by handling 226,000 TEUs in July, and in doing so marked the fifth consecutive month of TEU volume exceeding 210,000 units.
In July, the port saw an increase in TEU volume of nine percent, or 18,217 units, when compared with the same month last year.
“We started fiscal year 2016 with the highest volumes for TEUs, total containers and total rail containers for the month of July in the port’s history,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority.
“At our terminals, we are beginning to process the volumes associated with the coming retail season and we anticipate this trend continuing through November. We are focused on continuing to refine our operation, delivering consistent service at the gates and moving forward on the capital spending plan for fiscal year 2016 (July 1, 2015 – June 30, 2016).”
The port is currently executing its short and long-term plans to upgrade each of its marine terminals and its inland facilities. Moreover, it is investing in personnel and technology in order to improve service and build capacity for what it expects are continued increases in volume.
“We anticipate the growth in TEU, rail and truck volumes to continue,” Reinhart said.
“Last year’s peak season presented several significant challenges and we learned a lot in that period. From that experience, we are in stronger position to strategically act to handle volume and build velocity with consistent service.”
For the calendar year, the port’s TEU volume is 1.47 million, which 10 percent ahead of the same period last year. Further the port’s calendar year growth for rail and truck volume is 9 percent and 12 percent, respectively.