Norfolk – The Port of Virginia in May handled a record 230,000 twenty-foot equivalent units (TEUs) that resulted in a $4.5 million operating profit, the best monthly financial performance in fiscal 2015, which closes June 30. “The results we are seeing, in terms of monthly cargo volumes and the accompanying finances, are encouraging,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority. “Continuing on this track is important because it allows us to continue to reinvest these profits into the operation. “We have made significant investments in people, technology and equipment, but we have a long way to go in all of those areas in order to get our service levels where they need to be. We have shown some improvement in these last months with our delivery of service, but our goal is consistency: week-to-week and month-to-month.” In May, the port set its single-month record for TEU volume; truck containers, rail containers and ship calls were also up compared with the same month last year. In fiscal 2015, the port has processed monthly TEU volumes of 200,000 units or more nine times; there is one month left in the fiscal year. “This type of volume requires significant upkeep for our equipment, so we are investing heavily in regular maintenance of our equipment,” Reinhart said. “Thus far in fiscal 2015, we have invested $3.2 million more in maintenance when compared with last year. We will continue along this path in addition to adding new conveyance equipment to our fleet.” May’s financial performance represents an improvement of $4.1 million when compared with the same month last fiscal year. The fiscal-year-to-date result is an operating profit of $14.5 million. 600 World Trade Center I Norfolk, VA 23510 I ph (757) 683 8000 I toll-free (800) 446-8098 I portofvirginia.com “It is important to recognize the entire port team for its dedication to the job and the hard work that has been done in this fiscal year,” Reinhart said. “We are making the right moves and setting the pieces in place for a sustainable future for decades to come.”