Port of Virginia sets new fiscal year volume record

Drone shot of cranes unloading a container ship and straddle carriers loading them onto trucks in Portsmouth Marine Terminal in the Port of Virginia.

The Port of Virginia set a new June cargo volume record having handled more than 317,000 TEU.

The figures for the month are an increase of nearly 36,000 units when compared with last June.

June was the port’s fourth consecutive month of cargo volumes of 314,000 TEU or more and the month’s activity helped elevate the port’s total TEU volume for fiscal year 2022 (FY22) to a record-breaking 3.7 million units (the port’s fiscal year begins 1 July and runs through 30 June).

The FY22 TEU volume increased 14.7 per cent when compared with FY21, which was the port’s previous best fiscal-year performance.

READ: Port of Virginia to source all electricity from clean energy by 2024

Stephen A. Edwards, the port’s CEO and Executive Director, said: “Our growth is being driven by the confidence our customers and the cargo owners have in our ability to process their ships and cargo swiftly, safely and efficiently.

“There were some challenges, but we adapted and delivered real value to all of our port users and the result is an increasing demand for services of The Port of Virginia. Our labour partners and the entire port team performed at a very high level and the result is a record-setting fiscal year.”

In May the port processed 340,000 TEU, an all-time record for monthly productivity; throughout FY22 turn-times for motor carriers and dwell-time for import rail cargo were better than industry standards; the port’s lost workday rate was 1.68 per 200,000 hours worked; and in the spring, the port added two new ship-to-shore cranes and 15 shuttle trucks to its operation.

The fiscal year’s record cargo volume was driven primarily by an increase in loaded imports, followed by growth of empty export boxes.

In FY22 the port worked 1,471 vessels, which is 67 fewer than in FY21.

The Port of Virginia maintained its position as the US East Coast’s leading rail port having moved 32 per cent of its total cargo volume – or nearly 650,000 containers – by rail in FY22.

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