Business continues to grow as Port processes heavy imports and sets volume record for July

The Port of Virginia® continues processing record-setting amounts of cargo having handled nearly 318,000 TEUs (twenty-foot equivalent units) in July and in doing so making it the most productive July in the port’s history.

July’s TEU total was ahead of the same month last year by more than 24,500 units, or 8.4 percent. Additionally, July was the fourth consecutive month of TEU volumes exceeding 317,000 units. The combined volume of April, May, June and July is 1.3 million TEUs, resulting in the busiest four-month stretch in port history. Comparatively, the total TEU volume for the same period in 2021 was 1.17 million TEUs, a difference of more than 10 percent.

Stephen A. Edwards, CEO and executive director of the Virginia Port Authority, is expecting business to remain strong during the peak retail months leading up to the holiday season. This, he said, will position the port to have its best calendar year performance on record.

“We’ve brought on 10 new vessel services in the last 12 months and five of those in the last five months, so our growth is attributable to the reworked [and new] ship line services that are calling here and our efficiency is the result of an experienced team maximizing modern terminals,” Edwards said. “What we are seeing is growing interest from ship lines and cargo owners that are working to restore some predictability and reliability to their vessel services and supply chains. We have a proven track-record of success in what remains a challenging trade environment and the result is growth at The Port of Virginia.”

August Cargo Snapshot (2022 vs. 2021)

• Total TEUs – 317,691, up 8.4%
• Loaded Export TEUs – 85,170, up 5.1%
• Loaded Import TEUs – 149,829, up 4.8%
• Total Containers – 176,441, up 7.4%
• Total Rail Containers – 59,143, up 2.6%
• Total Truck Containers – 109,089, up 9.1%
• Total Barge Containers – 8,209, 24.3%

The Virginia Port Authority (VPA) is a political subdivision of the Commonwealth of Virginia. The VPA owns and, through its private operating subsidiary Virginia International Terminals, LLC (VIT), operates four general cargo facilities: Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal and the Virginia Inland Port in Warren County. The VPA leases Virginia International Gateway and Richmond Marine Terminal. A recent economic impact study from The College of William and Mary shows that The Port of Virginia helps to create nearly 437,000 jobs, and generates more than $100 billion in total economic impact throughout the Commonwealth on an annual basis.