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Home Port News Port of Virginia handles 3.7 million TEU in fiscal year 2022

Port of Virginia handles 3.7 million TEU in fiscal year 2022

The Port of Virginia set a new cargo volume record in June, having handled more than 317,000 TEU, an increase of nearly 36,000 TEU compared to last June.

June was the port's fourth consecutive month with cargo volumes of 314,000 TEU or more, a number that helped boost the port's total TEU volume for the fiscal year 2022 (1 July 2021 - 30 June 2022) to a record-breaking 3.7 million TEU.

In more detail, FY22 TEU volume was up 14.7%, compared to last year, which was the port's previous best performance.

“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 services of The Port of Virginia. Our labor partners and the entire port team performed at a very high level and the result is a record-setting fiscal year,” he added.

During the year, the port recorded several months of heavy cargo volume, high level performance at the terminals, continued focus on security and investments in equipment and infrastructure.

It is important to highlight that in May, the port handled 340,000 TEU, an all-time monthly productivity record.

“We processed a lot of cargo while making significant progress in other areas,” pointed out Edwards.

He went on to comment, “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 55 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 an East Coast alternative to ports that are having to address congestion issues.”

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