Virginia Port grows 4 percent
- February 5, 2008
by Jessica Sabbath
The Port of Virginia handled 4 percent more cargo in 2007 than it did in 2006, and port officials expect growth to continue in 2008.
The port’s marine terminals handled more than 2.128 million TEUs, or 20-foot equivalency units, in fiscal year 2007. That is up 82,000 TEUs over the previous year.
During the first half of the port’s 2008 fiscal year, the port handled 1.1 million TEUs, up 7 percent over the same period in the previous year. The port is estimating the port will grow 2.5 percent in 2008. Growth will not be as robust because of the slowing economy and large growth in rail cargo growth last year, according to port officials.
Last year, the amount of cargo moved by rail jumped. More than 80,000 additional TEUs were transported to Midwest markets via rail, up 20.9 percent than the previous year.