The Port of Virginia® closed fiscal year 2024 with 3.5 million TEUs, translating to a 2% increase over fiscal year 2023 and the second-best fiscal year performance in the port’s history.
“The work the port team did during the fiscal year 2024 is critical to the progress we are making on the projects that are part of our [US$1.4 billion] Gateway Investment Program,” said Virginia Port Authority CEO and Executive Director Stephen Edwards.
In September 2023, construction began on the renovation of the North Berth at Norfolk International Terminals (NIT) to enhance the port’s capability to serve larger, fully-laden container vessels. In January, the US port announced its transition to 100% clean electricity, leading all major US East Coast ports and accelerating its goal to achieve net-zero carbon emissions by 2040.
In March, dredging was completed on a wider shipping channel that allows for safe, two-way movement of ultra-large container vessels, reducing port stay by up to 15%.
Stephen Edwards commented, “We are doing exactly what we set out to do, which is deliver world-class, twenty-first century service to our users, enhance efficiency and capabilities, expand infrastructure, become a more sustainable operation and make inroads into new markets. We are further developing our assets to ensure the needs of our customers and [port] users will not outgrow our capabilities in Virginia.”
FY24 vs FY23 (July 2023 – June 2024)
- Overall Container Volumes: 3,499,639 TEUs – 2% increase
- Loaded Export TEUs : 1,139,925 – 4.2% increase
- Loaded Import TEUs : 1,625,267 – 3.6% increase
- Rail Containers : 784,597 – 13% increase
- Barge Containers : 64,106 containers – 24.4% decrease
- Truck Containers : 1,081,777 – 3.7% decrease
- Breakbulk Tonnage : 283,817 – 112.1% increase
- Ship Calls : 1,733 – 5% increase
