Port of Virginia Sets New Annual Volume Record

The Virginia Port Authority (VPA) is a subdivision of the Commonwealth of Virginia. The VPA owns Virginia International Terminals, LLC, and operates four general cargo facilities, which include Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal, and the Virginia Inland Port in Warren County. The Port of Virginia handled a whopping 2.93 million 20-foot equivalent units, or TEUs, in 2019. This massive number was a 3% increase over 2018. Let’s take a closer look.

Increase in Loaded Imports

The port experienced an increase in almost all areas. An increase of 3% in the movement of loaded imports was reported. Empty exports TEUs were up 10% and the growth in barge volume was up more than 18%. The cargo moving over Richmond Marine Terminal was up almost 20%, as well as truck volumes up 2%. The only number that didn’t move was rail volume.

Landmark Year All Around

The Port of Virginia had quite a year all around. Setting a new record for volume was the most successful accomplishment, although they didn’t see as much growth as they would have liked. Even with the uncertainty of the tariffs of the trade war, the numbers were impressive.

Driving Economic Investment

The port of Virginia has had an expanding role in driving economic investment in the last few years, including job creation. In 2019 alone, it helped generate over 3,500 new jobs and helped develop nearly 5 million square feet of space.

The port attributes 2019’s success to its team and port partners. They plan to continue the hard work they put into the year 2020 as well. According to the port’s CEO, John F. Reinhart, they are looking for new innovative ways of moving their cargo safely with greater velocity, to have an even better year ahead.