Port returns to profitability

Published 10:17 pm Tuesday, December 16, 2014

The Port of Virginia recently completed its fourth consecutive month of TEU (20-foot equivalent container) volumes exceeding 200,000 units, the Virginia Port Authority reports.

In November, 208,764 TEUs passed through the port, according to the authority — an 8.2-percent increase from November 2013.

Though the peak season is past, volumes have not been significantly down, authority CEO and executive director John F. Reinhart stated in a news release.

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Work by the Motor Carrier Task Force and input during the Port Productivity Summit has allowed the port to “make some headway” in managing the throughput, Reinhart stated.

“We still have a long way to go to reach the consistency in delivery of service that our customers and stakeholders seek,” he added.

With an operating income of $904,000, November was the port’s eighth consecutive month of profitability, according to the authority.

Last November, the port posted a $2.95-million operating loss.

In the first five months of fiscal 2015, the operating profit is $5.53 million, compared to an operating loss of $7.79 million by the same period in fiscal 2014.

Recent initiatives contributing to the improved results include moving to a six-day workweek at Norfolk International Terminals and Virginia International Gateway — formerly known as APM Terminals Virginia — relocating the chassis yard and changing the process for receiving and dispatching empty containers, according to the authority.

“Our most significant initiative that we’re implementing this week is the introduction of automated gates at NIT,” Reinhart stated. “The automated gate system is designed to quicken the entry and exit to the terminal for motor carriers.”