The expanded central rail yard at The Port of Virginia has created an increase in efficiency with the port now able to process 2 million twenty-foot equivalent units (TEUs) by rail annually. The rail yard expansion project was designed to “enhance the port’s reach to important Midwestern population and manufacturing centers by train,” according to Stephen A. Edwards, CEO and Executive Director of the Virginia Port Authority.
Edwards elaborated, “Modernizing and expanding the capability at NIT’s [Norfolk International Terminals] central rail yard gives us additional rail capacity ahead of the completion of the first phase of expansion at NIT’s North Berth [in 2025]. Cargo volumes coming to the U.S. East Coast are steadily increasing and moving the cargo to market by rail, over The Port of Virginia, is smart business.”
Polly Trottenberg, Deputy Transportation Secretary, said, “We are proud to be a steward of this port modernization project contributing a $20 million investment which not only expands the Norfolk International Terminals’ central rail yard, but serves to elevate the entire Port of Virginia as a critical hub for trade on the East Coast.”
Details of The Port of Virginia expansion project show construction began in 2022, with the $83-million-project delivered on time and on budget. Additional information explains the port used “a $20 million federal grant and a $20 million grant from the state Department of Rail and Public Transportation to build two new rail track bundles, and purchase three all-electric cantilever rail-mounted gantry cranes.” The rail yard expansion project offers numerous benefits such as an “additional 455,000 TEUs of annual on-dock rail capacity.” This translates to an increase of 31 percent, and the potential for The Port of Virginia to become more competitive industry-wide.
FTR’s Shippers Conditions Index declined in October to 1.3 from a 4.6 reading in September. Market conditions for shippers were not as favorable due to firmer fuel costs and tighter…
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