A Wealth of Common Drivers for Virginia’s Container Handling Growth — Panjiva
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A Wealth of Common Drivers for Virginia’s Container Handling Growth

Corp - Ports 909 Logistics 476 Mode - Containerized 1524 Mode - Seaborne 1845 Theme - Canals 141 U.S. 5399

The ports of Norfolk, Portsmouth and Newport News reported a combined 4.6% growth in container handling in April, according to official figures. That was the second month of growth and the best result for the month of April on record. Growth was led by imports, which climbed 9.4% on a year earlier, outstripping the 4.0% growth seen in exports. That repeats a pattern seen in California’s ports, as outlined in Panjiva research of May 12.

IMPORT GROWTH LEADS NORFOLK’S EXPANSION

Calculations based on Port of Virginia data for handling at Norfolk, Newport News and Richmond Source: Panjiva

The growth in handling in Virginia was the result of a 27.8% growth in shipments from the European Union, Panjiva data shows. That repeats a national level pattern, though the ports also did better than the average with shipments from China which climbed 21.7%. While the port has benefited from larger vessels calling from Asia after Panama Canal crossings, recent data suggests the growth resulting from it may be slowing.

EU LEADS VIRGINIA IMPORTS HIGHER

Chart segments imports to Norfolk, Newport News and Richmond by country of origin for previous month and previous three months on a year earlier. Bubble size indicates scale of imports. Source: Panjiva

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