SIMIC

The month's activity helped elevate the port's total container volume for fiscal year 2022 (FY22) to a record-breaking 3.7 million TEU. The FY22 TEU volume increased 14.7 per cent when compared with FY21, which was the port's previous best fiscal-year performance. (The port's fiscal year begins July 1 and runs through June 30.)

"Our growth is being driven by the confidence our customers and the cargo owners have in our ability to process their ships and cargo swiftly, safely and efficiently," said Stephen A Edwards, the port's CEO and executive director.

"There were some challenges, but we adapted and delivered real value to all of our port users and the result is an increasing demand for the services of The Port of Virginia. Our labour partners and the entire port team performed at a very high level and the result is a record-setting fiscal year."

The year held a number of heavy-cargo-volume months, high-level efficiency at the terminals, an ongoing focus on safety and investments in equipment and infrastructure.

"We processed a lot of cargo while making significant progress in other areas," Mr Edwards said. "We're moving forward on our US$1.4 billion capital investment package that includes expanding rail capacity, widening and deepening our channels to at least fifty-five feet deep and modernizing the North Berth at Norfolk International Terminals. In addition, we're opening up new markets for cargo owners and shippers through reworked vessel services that are offering direct Asia-to-Virginia connections. And we are building the reputation as the East Coast alternative to ports that arehaving to address congestion issues."

The fiscal year's record cargo volume was driven primarily by an increase in loaded imports, followed by growth of empty export boxes. In FY22 the port worked 1,471 vessels, which is sixty-seven fewer than in FY21. The port maintained its position as the US East Coast's leading rail port having moved 32 per cent of its total cargo volume, or nearly 650,000 containers, by rail in FY22, reports Warren County, Virginia's Royal Examiner.