SIMIC

All categories were down, with laden export boxes declining 15.3 per cent year on year to 68,594 TEU, laden imports were down 15.6 per cent to 105,692 TEU, rail containers down 19.1 per cent 39,680 TEU, trucked containers down 17.4 per cent to 777,000 TEU, barged containers down 15.6 per cent to 5,066 TEU and Richmond Marine Terminal containers were down 11 per cent to 3,241 TEU.

"We are beginning to see some stabilization in volumes and we expect this to hold for the next two months or so," said Virginia Port Authority CEO John Reinhart.

"The number of blank sailings is reducing and we are seeing an uptick in volume on some services, so the month-to-month cargo losses should subside during the near-term. This is still a very unpredictable trade environment, so our team is preparing for any eventuality,"

Also in July the governor announced that the port will get US$14 million from the state's settlement with Volkswagen for the car manufacturer's emissions scandal.

That money will help defray the cost of purchasing two new cranes for the south berth at Norfolk International Terminals (NIT) and electric cargo moving equipment to be used at Richmond Marine Terminal.

"We are continuing to invest in The Port of Virginia and look for ways to leverage our assets to build our revenue," Mr Reinhart said.

"We are speaking with the cruise industry about PMT, we're preparing to receive a 15,000-TEU ship sometime in September, we are quickly bringing the capacity expansion project at NIT to its end and we just committed to invest $42 million on 20 new shuttle trucks for Virginia International Gateway, two new cranes for NIT and electric cargo moving equipment for Richmond Marine Terminal."

This fall, two new cranes will arrive at NIT, which will give the terminal 10 units on its south berth; in late 2021 two more cranes will arrive.

"This will give us 12 cranes at NIT South meaning we can work multiple ultra-large container vessels at once with a high-level of productivity and efficiency, which is what the ocean carriers and are cargo owners are looking for," Mr Reinhart said.

"We are working through the pandemic and our team is operating safely, showing resiliency, productivity and high-level of professionalism. There is a lot of positive activity here and the evolution of the Port of Virginia is continuing."