Port of Virginia Blog

Six-Month TEU Totals Top 935,000; 12.5% Ahead of First Half of 2009

Norfolk -- June was the sixth consecutive month of positive TEU numbers for The Port of Virginia when compared with last year. In June, the Port handled 160,701 TEUs, an increase of 22,249 TEUs when compared with the same month in 2009.

For the six-month period ending in June, the Port's total TEUS were 935,764 compared with 832,052 for the same period in 2009; an increase of 103,712 TEUs or 12.5 percent. The June trade balance was 53 percent exports and 47 percent imports.

Calendar year TEU totals, 2010 vs. 2009:

• June 2010 = 160,701
• June 2009 = 138,452
• May 2010 = 161,535
• May 2009 = 141,438
• April 2010 = 147,119
• April 2009 = 144,073
• March 2010 = 167,262
• March 2009 = 136,737
• February 2010 = 155,050
• February 2009 = 133,358
• January 2010 = 149,003
• January 2009 = 137,994

The Port in June also handled 22,627 tons of breakbulk cargo, up 11,584 tons when compared with June 2009. The 2010 breakbulk tonnage total through the end of June was 118,176, compared with 124,695 tons handled during the same period last year.

VPA Inks 20 –Year Lease Agreement for APMT Virginia

Norfolk – The Virginia Port Authority executive director today signed a 20-year lease agreement that effectively gives the agency control over all operations at APMT Virginia, the most technologically-advanced facility in the world.

Moreover, the lease agreement unifies all the marine cargo container terminals in the Hampton Roads harbor under the VPA flag for the next two decades. The VPA's private non-stock operating company, Virginia International Terminals Inc. (VIT), is responsible for the day-to-day management and oversight of all VPA facilities and it will have that same responsibility for APMT Virginia.

"This asset presents a host of opportunities for The Port of Virginia," said Jerry A. Bridges, the VPA's executive director. "It gives us ample container capacity now and in to the future; we will be able to market the technology and efficiency of this facility to our customers; and it gives us on-dock rail capabilities that we previously didn't have."

The VPA Board of Commissioners in June authorized Bridges to execute the agreement; Eric A. Sisco, president of APM Terminals Americas, was that company's signatory.

In summary, the agreement states the VPA will lease and manage all aspects of the Portsmouth, Va.-based marine terminal for the next 20 years. APMT's ownership of the assets and land is unchanged. The official "handover" of the terminal is scheduled for July 6.

"In my experience this is the biggest deal of my career and I am very proud to have been part of it," said Joseph A. Dorto, VIT's general manager and CEO. "I believe this cements a very, very bright future for The Port of Virginia and our customers."

The VPA owns and operates Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal and the Virginia Inland Port, an intermodal operation in Front Royal.

Total Size: 576 acres

• 291 acres, terminal
• 124 acres, existing wetlands
• 17 acres, created wetlands
• 7 acres, service yard area
• 7 acres, state and city road dedication
• 130 acres, undeveloped

Phase I: 230 acres developed

• 1 million-TEU capacity
• 500,000 lifts

Yard Breakdown: 291 acres (Phase I and future development of wharf, yard, rail and gate)

• 141-acre backland container storage area
• 100-acre semi-automated RMG crane yard
• 40-acre on-terminal rail intermodal yard
• 10 acres of storm-water management ponds

Refrigerated unit capacity: 960 containers

Berth: 4,000 linear feet

Vessels docking: 4 ships

Channel: 50 feet at approach channel and 55 feet at berth

Rail: 3.3 miles (17,517 track feet)

• Six on-dock rail tracks with storage of 42 double-stack rail cars
• Linkages to Norfolk Southern Railway and CSX Transportation making this only facility on the East Coast with dual rail access on-site

Cost: $450 million.

• This is the largest privately funded marine container terminal in the U.S. and the largest investment in a company-owned container terminal in the nation as well.

Economic Impact: Largest private investment in Hampton Roads' history