Port of Virginia posts 6th record breaking year!

For six years in a row, the Port of Virginia has posted a record breaking year and 2017 was no different. Numbers coming from the port show a gain of 185,000 TEUs over 2016 which is a 7% increase over 2016; moving a total of 2.84 million TEUs in 2017 alone. Since 2012, the Port of Virginia has posted a record breaking gain each and every year as growth swells in the newly renovated port.

Gains and growth are attributed to the infrastructure investments made to the port and surrounding terminal in the last year to increase the depth, optimize equipment and expand services throughout the Virginia International Gateway. Preparations and infrastructure improvements made over the last three years readied the port to accept the first wave of post-Panamax vessels to call Norfolk. Rail and terminal improvements coupled with an expanded service area and drayage options allowed more cargo to conveniently pass through the gateway into and out of the US. While many US ports experienced banner years in cargo handling, the Port of Virginia stands as a representation of the phrase, “Success is when preparation meets opportunity.”

Forecasts predict that 2018 will continue to see record trade numbers as more people opt for the convenience of online shopping and e-commerce bringing in cargo from overseas suppliers to hit distribution centers and we expect the Port of Virginia to remain at the top of the list of busiest ports again when we look at the data from 2018. However, while this is still incredible news, we need to understand that the level of growth is almost unprecedented and cannot go on forever. We can expect to see months where numbers dip slightly as supply and demand fluctuate but don’t expect any receding numbers to last more than a 30 day period before bouncing back.