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Virginia port erases quarterly loss as monthly volume hits 201,113 TEU

THE Port of Virginia posted an 8.6 per cent year on year container volume increase in September to 201,113 TEU, recording the third straight month throughput hit 200,000 TEU. 

Virginia port erases quarterly loss as monthly volume hits 201,113 TEU

THE Port of Virginia posted an 8.6 per cent year on year container volume increase in September to 201,113 TEU, recording the third straight month throughput hit 200,000 TEU. 

Virginia port erases quarterly loss as monthly volume hits 201,113 TEU
20 October 2014 - 20:57

Virginia port erases quarterly loss as monthly volume hits 201,113 TEU

THE Port of Virginia posted an 8.6 per cent year on year container volume increase in September to 201,113 TEU, recording the third straight month throughput hit 200,000 TEU. 

It also erased last year's US$3.4 million quarterly operating loss with an operating profit of $4.3 million, reported the American Journal of Transportation.

The port has generated an operating profit in the first three months of fiscal 2015 and in six of the last seven months in calendar 2014.

Exports grew 12 per cent, or 12,080 TEU, while year-to-date numbers were up 7.1 per cent to 1,759,894 TEU, bringing in a September operating profit of US$102,827. 

"Heavy volumes and profitability continue, but our delivery of service to the motor carriers is not acceptable," said Virginia Port Authority CEO John Reinhart.

"We are pushing our capacity limits at both Virginia International Gateway (VIG) and Norfolk International Terminals (NIT)," Mr Reinhart said.

"We're already working vessels at Portsmouth Marine Terminal (PMT) and that move is designed to provide a measure of relief to VIG and NIT, but our truck gates and service time remain an immediate area of focus," he said.

In September, truck volume increased 21.9 per cent. The port moved 76,782 containers by truck in September. 

"As a result, we're experiencing congestion at our truck gates and increased turn-times and this is putting a burden on our motor carriers," Mr Reinhart said.

But the rail new was good. "On Columbus Day (October 13), the rail operation at NIT processed 1,173 containers, a new single-day record for that terminal. In rail we are hitting our tempo, and now we need to achieve that at the truck gates."

In a year-to-date comparison, rail volume is up 4.4 per cent; Virginia Inland Port (VIP) up 17.4 per cent; barge containers up 8.2 per cent; truck containers up 8.6 per cent; ship calls up three per cent; and vehicle units up 6.4 per cent.

In September, the port worked 167 vessels (container, breakbulk and ro-ro).

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