Taxonomy: Shipping

Port of Virginia reports 2.4 percent Q1 growth

While there was a 4.8 drop in volumes last month, it still was the port’s second-busiest March ever.

Port of Virginia reports 2.4 percent Q1 growth

While there was a 4.8 drop in volumes last month, it still was the port’s second-busiest March ever.

Port of Virginia reports 2.4 percent Q1 growth

While there was a 4.8 drop in volumes last month, it still was the port’s second-busiest March ever.

 

   The Port of Virginia reported Monday a 2.4 percent year-over-year increase in first-quarter container volumes to 708,297 TEUs, despite a 4.8 percent drop in March.
    The port’s loaded imports grew by 1.4 percent in the first quarter to 322,153 TEUs and its empty exports jumped by 23.7 percent to 136,287 TEUs. First-quarter loaded exports decreased by 5.1 percent to 243,872 and empty imports fell by 9.5 percent to 5,985.
    The Port of Virginia processed 240,035 TEUs in March, which was its second-busiest March behind 2018. The decrease was due to “five blank sailings that were a result of the Chinese New Year and four vessels that arrived late,” the port said in a statement.
    Its loaded exports fell by 9.5 percent to 89,282 TEUs and loaded imports decreased by 5.4 percent 107,040 TEUs. Empty exports grew 9.3 percent to 41,712 and empty imports dropped 13.3 percent to 2,002.

   In the port’s fiscal year, which started in July, it has handled 2,192,700 TEUs, a 2.1 percent increase over its previous fiscal year.

Without wanting to be too alarmist, there is the potential for IMO 2020 to inspire another major carrier bankruptcy and/or trigger more defensive M&A.

The container liner service offering the fastest transits from China to the U.S. is the OCEAN Alliance’s NWX/TPN at 11 days from Ningbo to Tacoma, according to BlueWater Reporting’s Port to Port Transit Analysis by Carrier application, one of the many tools offered by BlueWater Reporting.

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Awards: From Actisense to Port of New Orleans

Awards: From Actisense to Port of New Orleans

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Port of Virginia reports 2.4 percent Q1 growth

While there was a 4.8 drop in volumes last month, it still was the port’s second-busiest March ever.

Apr 15, 2019 on Dec 27, 2018AmericanShipper.com

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Port of Virginia reports 2.4 percent Q1 growth

While there was a 4.8 drop in volumes last month, it still was the port’s second-busiest March ever.

Apr 15, 2019 on Dec 27, 2018AmericanShipper.com