Port of Virginia posts 340,000 TEU in May, expects best year ever

THE Port of Virginia has set a new milestone handling 340,000 TEU in May as the port anticipates its best fiscal year performance on record, reports London's Port Technology.


Total TEU levels in May have surpassed the previous all-time monthly volume mark by 14,500 TEU.


Furthermore, May was the third consecutive month of TEU volumes exceeding 314,000 TEU.


The combined volume of March, April, and May stood at 978,000 TEU, the busiest three-month stretch in the port's history.


Virginia Port Authority CEO Stephen Edwards declared he is expecting strong volumes in June that will make the port have the best fiscal year performance on record.


"The success we have had in these last three months is the result of an experienced operations team that understands how to extract maximum productivity from the terminals while delivering very efficient service to our customers," said Mr Edwards.


"New cranes will provide the capacity to process about 360,000 more TEU annually, which is going to be important for us as we continue to see new business and move into peak cargo season. This best-in-class productivity and our US$1.3 billion long-term investment strategy is driving business to The Port of Virginia," said Mr Edwards.


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Port of Virginia posts 340,000 TEU in May, expects best year ever
Port of Virginia posts 340,000 TEU in May, expects best year ever