The Port of Virginia is reporting a $10 million operating profit thus far into fiscal 2015, a total bolstered by strong cargo volumes and accompanying financial performance in April.  Today, John F. Reinhart, CEO and executive director of the Virginia Port Authority (VPA), reported the port’s operating profit in April was $3.9 million; he made the announcement at the VPA Board of Commissioners meeting.  “Our financial performance is improving and as that happens, we are reinvesting the profits in the terminals,” Reinhart said. “We have a commitment to improving our delivery of service. We are not there yet, but positive operating results combined with our strong bond rating puts us in a very good position to continue our investment strategy and work to improve cargo velocity. The work has to be done now and with the support of the board we are investing in facility improvements, cargo handling equipment and people.”  In April, the port handled 210,000 twenty-foot equivalent units (TEUs); truck containers, rail containers and ship calls were up compared with the same month last year. Reinhart said monthly TEU volumes above 200,000 units are becoming the norm and the port must invest now to create capacity and improve throughput.  At today’s meeting, the board approved the purchase of 500 new chassis to improve the service to motor carriers. That purchase comes in addition to replacement scales at Norfolk International Terminals, facility upgrades at Pinners Point Container Yard, container handling equipment being delivered to Portsmouth Marine Terminal and the interim expansion at Virginia International Gateway. Moreover, the board approved a budget for fiscal 2016 that includes $123 million in capital projects, which is the largest capital plan in more than a decade.  “This budget will accelerate much-needed capital investments of which $70 million are for near-term improvements for motor carrier service, congestion relief and expanding capacity,” said Board Chairman John G. Milliken. “This budget will generate a modest operating profit of $2.7 million in fiscal 2016 and provide investments in equipment, personnel and system improvements to begin moving the port and the Commonwealth forward.”