“It has been a very disciplined, team-oriented approach to stem the losses,” said John F. Reinhart, the CEO and executive director of the Virginia Port Authority. “We had an operating profit of $150,000 in March; this is just one month and we need many more just like it and significantly better. Still, this is a beginning, something we can build upon, and reinforce the initiatives underway to rebuild The Port of Virginia. There remain significant systemic challenges that need to be corrected to reduce costs, improve services and velocity across the port.”
In March, cargo volume at the port grew 10.2 percent, an increase of 18,316 TEUs when compared with the same month last year. The month’s growth was led by imports, which increased by 12.8 percent (10,248 TEUs) when compared with last March.
There was also growth in breakbulk tonnage, 16.5 percent; rail containers, 5.3 percent; barge containers, 4.7 percent; and vehicle units, 27.9 percent.