Port of Virginia Sets September Cargo Record
The Virginia Port Authority (VPA), based in Norfolk, US, handled 215,520 TEUs (twenty-foot equivalent units) in September, an increase of 7.2 percent compared with the same month last year.
With this, VPA marked the seventh consecutive month of TEU volumes exceeding 210,000 units.
In the first quarter of fiscal year 2016, The Port of Virginia’s cargo volumes are 6 percent ahead of the results reported in the corresponding period from the last fiscal year. This growth was pushed ahead by a record-setting September which marked the best cargo performance for this month in the port’s history.
John F. Reinhart, CEO and executive director of the Virginia Port Authority, said that the port’s capital reinvestment program is underway, adding: “In the coming decade, we will need to reinvest $2 billion in The Port of Virginia to increase its capacity and ensure its competitive position on the US East Coast. The overall performance and result of fiscal year 2015 has cleared the way for this process to begin.”
In comparison with last year’s September, rail units were up 16 percent, Virginia Inland Port (VIP) volume up 43 percent, truck volume up 2 percent and vehicle units up 133 percent.
The port said that its consolidated financial performance in the first two months of the fiscal year (July/August) is positive as well. Total operating revenues amounted to USD 80.5 million and the operating income is USD 3.5 million. The audited fiscal year 2015 results confirmed operating income of USD 13.6 million, which is an improvement of USD 30.1 million when compared with the results from the previous fiscal year.