October Yields New TEU Record; Port Marks Five Continuous Months of Volume Growth
New Monthly Record Eclipses Mark Set in 2018 by Nearly 3,700 TEUs
NORFOLK, VA – The Port of Virginia® in October set a new record for monthly TEU volume (twenty-foot equivalent unit) having handled more than 274,000 units and processing that cargo in record time.
In October, the port moved 274,215 TEUs, which is an increase of 17,776 TEUs, or nearly 7 percent, when compared with September. This was the fifth consecutive month of month-over-month growth for the port. The increase was fueled by loaded imports, which totaled 131,770 TEUs and is an increase of 6 percent when compared with last October.
“Our investments in our productivity continue to be tested and our team continues to provide that value to our customers,” Reinhart said. “We had two weeks where we processed 40,000-plus units and delivered consistent turn-times at the gates and rail ramps. Our terminals are delivering the scale, speed, and service necessary to meet our customers’ needs and the needs of their customers.”
October’s cargo totals could have been even higher, but volumes from vessel calls in the last days of the month were pushed into November, Reinhart said. “From a volume perspective we are already seeing signs of a busy November.”
In late October, The Port of Virginia introduced its next chief executive officer who will succeed Reinhart. Just days after that announcement, the port took delivery of two ship-to-shore (STS) cranes at Norfolk International Terminals (NIT). The two, 170-foot-tall units arrived Nov. 5 and are the capstone of a $450 million investment to expand capacity and increase productivity at NIT. Their delivery signals the end of the nearly two-and-a-half-year-long project; they should be fully-operational in Jan. 2021.
“October was busy on multiple fronts and we continue to make significant forward progress,” Reinhart said. “We announced an effort that has driven our chassis fleet’s average age to just three-and-a-half years old. We received a $20 million federal grant to expand NIT’s Central Rail Yard. We introduced Stephen Edwards as our next leader and let the industry see what the transition will look like. We’re adding lift capacity at NIT, construction on our land-side investment is complete and we are poised to deliver consistent high levels of productivity to the ocean carriers and cargo owners for decades to come.”
October Cargo Snapshot (2020 vs. 2019)
- Total TEUs – 274,215, up 2.7%
- Loaded Export TEUs – 83,705, up .2%
- Loaded Import TEUs – 131,770, up 6.1%
- Total Containers – 149,675, up 1%
- Virginia Inland Port Containers – 2,751, down 3.8%
- Total Rail Containers – 46,625, down .2%
- Total Truck Containers – 97,610, up 1.9%
- Total Barge Containers – 5,440, down 4.9%
- Richmond Marine Terminal Containers – 4,205, up 30.3%