Imports fuel growth at Port of Virginia
Port sees fifth straight month of cargo growth, with 7% month-over month increase in October volume.
Cargo volume through the Port of Virginia increased for a fifth straight month in October, led by imports, port officials said today.
The port handled more than 274,000 twenty-foot equivalent units (TEUs) in October, up 7% compared with September and up nearly 3% compared to a year ago. Imports totaled 131,770 TEUs, an increase of 6% compared to a year ago, officials said.
October’s cargo totals could have been higher, but volumes from vessel calls in the last days of the month were pushed into November, according to the port’s CEO and Executive Director John F. Reinhart.
“From a volume perspective we are already seeing signs of a busy November,” Reinhart said.
In addition to the strong growth in October, the port also made headway on expansion projects at Norfolk International Terminals (NIT). The port received a $20 million federal grant to expand NIT’s central rail yard and is also adding lift capacity at the site. Port officials also announced in October that industry veteran Stephen Edwards will succeed Reinhart as CEO and executive director of the port upon Reinhart’s retirement in March.