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Biden executive order on Chinese cranes affects Port of Va.
President Joe Biden issued an executive order Wednesday addressing cybersecurity and espionage concerns over Chinese-made cranes in use at U.S. ports, including the Port of Virginia. Additionally, the Biden administration announced a plan to invest $20 billion on infrastructure security at U.S. ports, including support for domestic manufacturing of ship-to-shore cranes. National security concerns [...]
Va.’s maritime industry has $8B economic impact, report says
Virginia’s non-military maritime industry was responsible for one in five jobs in Virginia and more than $8 billion in state and local taxes during fiscal 2022, according to a recent study conducted by William & Mary. The Virginia Maritime Association and the Virginia Port Authority commissioned the study to demonstrate the industry’s economic impact. The […]
Fed’s Fifth District economy shrinks slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) contracted slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
Va. trade office opens in Taiwan
Virginia has opened its trade office in Taiwan. Announced in April, the office is Virginia’s fourth international trade office and follows Youngkin’s meeting with Taiwan’s president, Tsai Ing-wen, during the governor’s first international trade mission. Virginia Secretary of Commerce and Trade Caren Merrick was joined by Liang-yu Wang, director general of Taiwan’s Dep[...]
Fed Fifth District economy grows slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) grew slightly in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions gathere[...]
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 […]
Fed Fifth District economy shrinks slightly
The economy in the Federal Reserve‘s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has contracted slightly since March, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
Hampton Roads Shipping Association taps new president
The Hampton Roads Shipping Association has named Jeremy Bridges its new president, effective May 1. Bridges will succeed Roger Giesinger, who has led the nonprofit, Norfolk-based trade association for the past 28 years. Giesinger, who announced his retirement last year, will stay on as president emeritus for a brief transition period. Bridges comes to HRSA […]
At max capacity
Supply chain and logistics executives used to joke that no one knew or understood what their jobs were — that is, until the COVID-19 pandemic upended how goods were transported to warehouses and ultimately to customers. “Until you start to look behind the scenes, you don’t know how all of this gets to your door […]
Feds say Chinese cranes used at Port of Va. could be spy tools
The Port of Virginia may have as many as 30 Chinese ship-to-shore cranes that have come under scrutiny from Pentagon officials over national security concerns, and the port has five more on delivery for next year. The cranes made by Shanghai Zhenhua Heavy Industries Co., known as ZPMC, a state-owned company whose major shareholder is […]
Fed’s Fifth District economy expands slightly
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has expanded slightly since October, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic conditions g[...]
Fifth District economy little changed since August, Fed says
The economy in the Federal Reserve’s Fifth District (a multistate region including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been largely unchanged since August, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. Published eight times per year, the Beige Book is based on anecdotal information about economic […[...]
