Port of Virginia Reports Another Single-Month Record for Container Volume
Two months after reporting that August was its all-time-busiest month, the port has another record-breaker on its hands.
Container volume in October surged to 238,567 TEUs – that’s containers measured in 20-foot units, an industry benchmark – a 2.2% increase from the same month a year ago.
RELATED: Ports of Virginia and Charleston report record August volume
“The peak-season cargo is continuing and the volumes are being carried on bigger vessels that are rotating into the Atlantic trade,” John Reinhart, CEO and executive director of the Virginia Port Authority, said in a statement released Nov. 14. “We are seeing ships in the 10,000-plus TEU range with regularity and larger vessels are on the horizon.”
Reinhart noted that last month’s record-breaking volume was processed despite the challenges posed by Hurricane Matthew.
Rail-container volume at the port last month was up nearly 13%, year-over-year; truck-container volume fell 2.5%; breakbulk tonnage — noncontainerized cargo packed in or on bales, drums or pallets — fell 51.1%.
From January through October, the port’s total TEU volume is up about 2% from the same period last year; rail volume is up about 12%; truck volume is down 3.5%; and breakbulk tonnage is down 33.5%.
October was the ninth consecutive month in which the port handled TEU volumes topping 210,000 units.
The port figures heavily in two recently formed partnerships of ocean carriers — the “Ocean Alliance” and “The Alliance.” Both are expected to begin operations in April, with each bringing several new Asia and trans-Atlantic services to the port, including multiple “first-in” and “last-out” vessel calls.
The two new alliances, along with a third known as the “2M” alliance, move about 95% of all oceangoing cargo worldwide, according to a recent Wall Street Journal report.
Reinhart said the port’s focus going forward “will be maintaining momentum” as two big capital projects that will grow capacity get under way — one at Norfolk International Terminals and the other at Virginia International Gateway in Portsmouth.
Together, the projects are estimated to cost about $670 million.
