Port of Virginia: TEU Volume Surpasses 230,000 in May

 

In May, the port moved 230,511 containers as measured in standard 20-foot units, or TEUs, a 13 percent increase from the same month a year ago.

 

"We are on pace to show significant growth - set records - for both the calendar and fiscal year," said John Reinhart, executive director and CEO of the authority, in a statement. "So our effort is to continue to reinvest in facilities, equipment and people to be able to deliver consistency to all port users and improve service for motor carriers."

 

Port records show that May was the seventh record-breaking month for TEU volume since July 2013. Until that point, the previous record had stood since October 2007, before the start of the global recession.

 

Truck-container volume in May grew by 21.5 percent, year over year, while rail containers edged up 2.5 percent. Barge-container volume fell by 4.5 percent. 

 

"We continue to be tested with these mounting monthly volumes; our busy peak season is not far off, and we anticipate that we will see cargo volume that exceeds May's result," Reinhart said.

The port is expected to announce financial results for May later this month.