Norfolk (Virginia) - The Port of Virginia, that comprises four marine terminals, has completed the expansion of its Virginia International Gateway or VIG, a privately owned marine container terminal located along the Elizabeth River in Portsmouth, and has been able to handle handled a record 2.9 million twenty-foot equivalent units (TEUs) in fiscal year 2019, which is a volume increase of 4 percent when compared with last fiscal year.
“We finished the fiscal year in positive territory – our fifth consecutive fiscal year of growth,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “Our import loads were up more than five percent, truck volume was up almost four percent and barge volume was up nearly ten percent. All of this was accomplished while we were under construction at VIG and it was done with a continuous emphasis of safety.”
The port’s fiscal year closed June 30, and in that month the port handled 239,329 TEUs, which is an increase of nearly 7 percent – 15,490 TEUs — when compared with last June. The port’s volumes in the fourth quarter of FY19 have been increasing ahead of the arrival of peak cargo season.
The VIG was commissioned in July 2007, and is the largest privately-owned container terminal in the United States. In July 2010, the Virginia Port Authority, VPA, and VIG entered into a 20-year lease agreement under which the VPA is now operating VIG.
VIG sits on a total footprint of more than 2 square kilometers, and is the first of port’s automated container terminals. In the nowadays first phase of its development, it can process over one million TEUs annually. In the second phase it will add to its surface another 200 thousands square meters and rise its capacity to over 2 million TEUs.