The Port of Virginia handled 207,771 TEU in July, surpassing the monthly record set last October by 1,174 TEU.
The port’s revenues during the month were $37.9 million, and its operating income was $1.98 million, increases of 21.5 percent and 6 percent, respectively, when compared with last July.
“This is a solid start to our new fiscal year and a return to profitability after a loss in June,” said John F. Reinhart, chief executive officer and executive director of the Virginia Port Authority. "Our performance and direction are improving, but much work remains to be done.”
The port has generated an operating profit in four of the last five months.
The VPA attributed the strong financial performance in July to the port taking over management of the empty container yards, recognizing revenue and cost from the operation of the port’s chassis pool, and the efficiencies being realized from multiple initiatives implemented since February at the terminals to improve delivery of service and cargo flow while controlling costs.
In the first seven months of 2014, the port has handled a record 1,344,425 TEU, 6.8-percent more than in the same period last year.
In July, truck volume increased by 2.3 percent and barge volume increased by 12.6 percent. Rail traffic was flat, declining by less than 1 percent. As a percentage of total containers moved during July, 64 percent moved by truck, 32 percent by rail and 4 percent by barge.
In July, the port worked 176 container, breakbulk and roll-on, roll-off vessels, making it the best month for vessel calls in more than five years.