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May 18, 2018

Freight was up 8.7% in March at Port of Virginia

The Port of Virginia announced that it processed 252,230 twenty-foot equivalent units (TEUs) in March, pushing the port's growth thus far in fiscal year 2018 to 4.4 percent. Total TEU volume for the month was nearly 9 percent ahead of the same month last year.

In March, the East Coast port processed 252,230 TEUs, which is 8.7 percent, or 20,082 more units when compared with last March. Cargo volume at Richmond Marine Terminal (RMT) was up 26 percent, while volume at Virginia Inland Port slipped by 4 percent. Truck and rail volumes were up 13 percent and 2 percent, respectively.

"March's volumes were a nice rebound from largely static volumes in January and February," said John F. Reinhart, CEO and executive director of the Virginia Port Authority (VPA). "We expect volumes to continue to climb and as a result we are focusing on ways to improve the delivery of service to the motor carriers and our ocean carriers, specifically at VIG (Virginia International Gateway), where transactions have been slowed as the result of our capacity expansion project there."

Source: VPA