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Transportation 2023: JOSEPH P. ‘JOE’ RUDDY
In 2021, Ruddy was tapped a second time to be COO for the Virginia Port Authority’s nonprofit affiliate that operates the Port of Virginia, one of the state’s chief economic drivers. Ruddy, who held the same job from 2011 to 2014, is responsible for operations, information technology, safety, security, capacity expansion projects and maintenance at […]
Manufacturing 2023: FREDRIK HÖGBERG
A Sweden native, Högberg became president of Volvo Penta North America last year and is responsible for the strategic direction and execution of the company’s operations throughout the continent, covering both the marine and industrial markets. Sharing the name of the vehicle manufacturer, Volvo Penta is a supplier of engines and power systems for boats […]
Transportation 2023: STEPHEN A. EDWARDS
With oversight of the entire Port of Virginia system, Edwards is responsible for its marine terminal facilities in Hampton Roads as well as the Virginia Inland Port in Front Royal. Formerly CEO of TraPac, Global Container Terminals and Ports America, Edwards joined the port authority during the pandemic in January 2021, a challenging time for […]
Transportation 2023: DAVID WHITE
In addition to leading the Virginia Maritime Association, an advocacy organization for nearly 500 member companies, White is executive vice president and secretary for the Hampton Roads Shipping Association. A William & Mary alum, White has been with the VMA since 2003 and became its executive director in 2018. The association’s priorities include encouraging investment […]
Zim announces $30M expansion
Zim American Integrated Shipping Services Co. LLC will invest $30 million to expand its U.S. headquarters in Virginia Beach, creating several hundred jobs over the next five years, Gov. Glenn Youngkin announced Tuesday. The expansion includes a move from Norfolk, where the company has had its U.S. headquarters since 2001. Zim is a publicly-held subsidiary […]
Building a hub
Fairwinds Landing LLC is demolishing dilapidated infrastructure, preparing to construct new facilities and signing tenants as it transforms Norfolk Southern Corp.’s Lambert’s Point Docks in Norfolk into Fairwinds Landing, a maritime operations and logistics center supporting Hampton Roads’ offshore wind, defense and transportation industries. A Virginia Beach-based partnership be[...]
New rules
In theory, the Ocean Shipping Reform Act (OSRA) would, among other things, help reduce inflation by adding transparency to container handling fees. In practice, though, it’s not that simple. When President Joe Biden signed OSRA into law in June 2022, he touted it as a weapon against shipping costs that had soared during the pandemic. […]
Port of Virginia
The Port of Virginia again set a cargo record in fiscal year 2022, handling 3.7 million TEUs (20-foot equivalent units) and surpassing its 2021 record by 14.7%. The six-terminal port, which includes facilities in Hampton Roads, Richmond and Front Royal, also continued with its project to widen and deepen its channels to at least 55 […]
The ‘wrong inventory’
During the pandemic, consumers wanted things to make them feel comfortable at home — whether it was sweatpants, home décor or the latest fuzzy blanket. But as many workplaces have transitioned to hybrid or in-office work models and people are back to socializing outside the home, products that were over-ordered by companies during the pandemic […]
Choppy waters for ocean shipping
What a difference a year makes. In March 2022, ocean freight rates were at record highs, with capacity straining under the weight of historic U.S. import demand. High inventories and economic uncertainty prompted importers to pull back over the summer months, and volumes slowed. A spectacular rate collapse in the ocean freight market from Asia […]
A gust of new jobs
Twenty-seven miles as the seagull flies off the coast of Virginia Beach, two wind turbines, each about 600 feet tall — taller than the Washington Monument — have the ability to generate 12 megawatts of electricity, enough to power 3,000 homes. In three years, 174 more wind turbines will join them with more than 200 […]
