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In 2007, the Port of Virginia handled 2.1 million 20-foot equivalent units (TEUs), a 4 percent increase compared with 2006's volume and the port's sixth-straight year-over-year gain.

The volume of cargo moved by rail from marine terminals to Midwest markets jumped 20.9 percent. The port is served by Norfolk Southern Railway, CSX Transportation, the Eastern Shore Railroad and Norfolk & Portsmouth Belt Line Railroad.

"With all of the consolidation that has taken place in the industry, a soft economy, overall competition and a change in leadership here, we were still able to post growth," said Jerry Bridges, executive director of the Virginia Port Authority (VPA), in a prepared statement.

For 2008, the port is projecting container volume growth of 2.5 percent.

"We feel the softening economy, combined with the difficulty of producing growth in the rail sector following a 20 percent performance in 2007, will cause our rate of growth to taper off a bit," said VPA Senior Marketing Director Thomas Capozzi.