Port of Va. has record year in 2017

NORFOLK, Va. – A record setting 231,675 20-foot equivalent units handled in June propelled the Port of Virginia to a record July-June fiscal 2017.

June activity represented a 7% increase compared with the same month last year. The port completed fiscal 2017 with a record-setting 2.7 million TEUs.

“We finished fiscal year 2017 with a solid volume increase and thus marked our fourth consecutive fiscal year of volume growth,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “We grew in the right areas, we moved a record-amount of volume across all modes of transportation, train, barge and truck – and did so safely — and we continue to improve our service levels. The $670 million we are investing to expand the capabilities and capacity at the Port of Virginia are aimed at sustaining this trend into the next several decades.

“The Port of Virginia team and its labor partners accomplished a lot in fiscal year 2017. We became the leading rail port on the U.S. East Coast; we announced several significant initiatives; we moved record amounts of cargo; we embarked on the biggest expansion – investment — this port has ever seen and we were the first port to host the COSCO Development, which was biggest ship to ever call the U.S. East Coast.”

This growth comes as the port is in the process of expanding capacity at its two primary container terminals: Norfolk International Terminals and Virginia International Gateway. The port is investing $320 million to double container capacity at VIG and $350 million to renovate the south container yard at NIT. In June, the port opened its new 26-lane, North Gate at NIT, a $42 million investment that will increase the throughput of trucks.

“Our expansion projects are underway and will result in sweeping improvements across all areas of operation, allowing for sustainable growth for decades to come,” Reinhart said. “Looking forward, we will push to continue building momentum and preparing ourselves for the even bigger ships of tomorrow.”

Furniture Today Staff | Staff Editors

Furniture Today covers all the news concerning manufacturers, retailers and suppliers in the home furnishings sector.

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