Wednesday, December 17, 2014

Virginia Port Authority cargo volume up 8 percent

The Virginia Port Authority, which runs terminals in Portsmouth, Newport News and Norfolk, announced it moved a total of 208,764 TEUs through its port in November.

That's an 8.2 percent year-over-year increase, and becomes the port's fifth straight month of total cargo volume exceeding 200,000 TEUs.

Overall, year-to-date container volumes are outperforming previous records, with 2,189,762 TEUs being imported and exported through the port — up 7.2 percent year-over-year, the port said.

"Though we're past peak season, we're not seeing a significant let-up in our volume," said John F. Reinhart, Virginia Port Authority executive director and CEO. "We are making some headway at the terminals to adapt to, and manage, this kind of throughput. We still have a long way to go to reach the consistency in delivery of service that our customers and stakeholders seek."

Some say the reason for the increased cargo is that some major retailers have been shifting their shipments from West Coast to East Coast ports.

Since July 1, the port has posted a $5.53 million profit during the first five months of the first quarter of the 2015 fiscal year, up from a $7.8 million loss during the same period last year, according to the report.



More Newswire stories

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McDonald’s Japan rations french fries due to West Coast port slowdown

Busiest shipping day volume up from last year

11 die after fishing boat and cargo ship collide in Gulf of Suez



Today's Cargo News Archives

 










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