Port reports good year
Published 8:06 pm Saturday, July 12, 2014
Virginia’s port set a new record for container volume in fiscal 2014 after handling more than 2.3 million TEUs (20-foot equivalent containers), according to the port authority.
The figure eclipsed the previous fiscal-year record by 140,476 TEUs, the authority announced in a news release.
“We had a record-setting fiscal year, with our TEU volume growth up 6.5 percent when compared with fiscal 2013, and we’re also tracking for a record calendar year,” stated John Reinhart, chief executive officer and executive director of the Virginia Port Authority.
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In June, the port handled 186,403 TEUs, a 6-percent improvement compared to June 2013.
The month had growth for rail containers, 12.1 percent; Virginia Inland Port (containers handled), 102.8 percent; total barge containers, 19.8 percent; total truck containers, 1.6 percent; ship calls, 1.3 percent; and vehicle units, 122.9 percent.
“There are multiple factors that have led us to this point: one is the people of this port and another is our ongoing effort to improve operational efficiency,” according to Reinhart.
The previous fiscal- and calendar-year records for performance were set in 2013.
According to the authority, in fiscal 2014 the port has improved cargo conveyance systems, restructured the relationship between the authority and its private terminal operating subsidiary, Virginia International Terminals, created a task force to address concerns of motor carriers serving the port, and implemented “state-of-the-art technology” at Norfolk International Terminals.
“The fiscal year has been one of positive change at multiple levels which is allowing us to focus on sustained growth and profitability,” Reinhart stated.
“The organization is going to continue to evolve and that will make The Port of Virginia more responsive, more competitive, which ultimately will drive growth supported by timely, measured expansion.”
The port will release its year-end financials in the coming weeks, and Reinhart says he expects the positive financial results reported in the last three months to continue.