Port of Virginia sets record processing 271,000 TEU in January
THE Port of Virginia set a new record in January for monthly container volume after reaching 271,000 TEU, reports Norfolk, Virginia's WAVY TV.
The port saw an average of 268,000 TEU a month from September to January, a 19.2 per cent increase compared to 2020, largely driven by heavy loaded import and export volume as well as empties.
Virginia Port Authority CEO John F Reinhart declared the volume is reflective of the worldwide need for empty containers, a domestic manufacturing sector that is increasing to meet demand, a retail sector regaining its strength and confidence in the economy.
"It's still a very dynamic trade environment and we are well-positioned to address the challenges as they arise because of the investments we have made in capacity and modernisation," said Mr Reinhart.
"We're processing significant volumes and expect the trend to continue. During the last several months, the port team, our labour partners, and the investments we have made in the terminals are delivering real results for the customers and cargo owners," said Mr Reinhart.
Reinhart's successor, Stephen Edwards declared that volumes through the winter should remain steady and a vital factor will be modified due to the Chinese New Year celebrations.
"This year, many of the Chinese factories were operating during the New Year celebration and this move will help mitigate some of the traditional slowdown in trade that industry normally experiences in late February," said Mr Edwards.
"Volumes will also be dependent upon the health of the global economy, the distribution of the Covid vaccine and the ability of people to return to work. There are very good foundations in place here to handle the changes as they come," said Mr Edwards.