PORTSMOUTH, Va. (WAVY) — The Port of Virginia says it had another record-breaking fiscal year while it continued work on a major expansion project.
Port officials released data on Wednesday showing the port handled 2.8 million twenty-foot equivalent units (TEUs) in the 2018 fiscal year, which is 2.4 percent more than the previous year.
At the moment, the port is in the middle of a $700 million capacity expansion at Virginia International Gateway (VIG) and Norfolk International Terminals (NIT).
John Reinhart, the port’s CEO and executive director, said in a statement Wednesday the port’s expansion is “schedule and on budget.”
The port handled fewer units in April, May and June of 2018 than the previous year — which officials said was due to an effort to limit the number of empty containers flowing through terminals during construction.
A project to widen and deepen the commercial shipping lanes that serve the Port of Virginia got a green light from the U.S. Army Corps of Engineers. This expansion is expected to allow ships to carry more cargo and move more quickly.
