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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[...]
CMA CGM America’s Ed Aldridge to retire
Ed Aldridge, president of CMA CGM America and American President Lines LLC, will retire on Dec. 6, and Peter Levesque, who was previously Ports America Group’s president, will take over those roles, the French container ship company announced Wednesday. Aldridge took over as president of CMA CGM America in 2020 and has been responsible for […]
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 […[...]
Port of Va. partnering with Norfolk Southern
The Port of Virginia is part of a new partnership with Norfolk Southern Corp., Hapag-Lloyd and Union Pacific Railroad. The partners will provide expedited train shipping from the East Coast to the western U.S., Norfolk Southern announced last week. The partnership, called OceaNS Bridge Express, will start at the Port of Virginia‘s Norfolk International Terminals […]
Lambert’s Point Docks in Norfolk to become $100M maritime center
In a deal predicted to bring more than 500 jobs and over $100 million in capital investment, the Lambert’s Point Docks property in Norfolk will become a maritime operations and logistics center to support local offshore wind, defense and transportation industries. The land, owned by Norfolk Southern Railway Co., has been leased by Virginia Beach-based […]
CV International subsidiary acquires Ga. shipping company
Norfolk-based CV International Inc. subsidiary Capes Shipping Agencies announced Wednesday that it had acquired Savannah, Georgia-based Ryan Ship Services LLC. Financial terms of the transaction were not disclosed. “This merger will be a great fit for both of our companies, and the timing was perfect,” CVI President and CEO Mike Coleman said in a statement. […]
Commentary: Adjusting to a new shipping reality
Ocean shipping patterns established during the first year of the pandemic have taken root, and it’s time for shippers to adjust strategies for the long term. That was the takeaway from the first in-person Trans-Pacific Maritime (TPM) Conference in three years, presented in Long Beach, California, in March by IHS Markit Ltd. (now S&P Global […]
Fifth District economy growth is moderate, Fed says
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) continued to grow moderately despite supply chain issues, labor shortages and rising prices, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information [...]
Penn. logistics firm building cross-dock centers in Va.
Pennsylvania-based warehousing and logistics company A. Duie Pyle Inc. will invest about $20 million to establish three cross-dock service centers in Manassas, Richmond and Roanoke, an expansion expected to create 75 jobs, Pyle and Gov. Glenn Youngkin announced Tuesday. It’s the company’s first entry into Virginia. “Global supply chains are experiencing unprecedented pressure and we [...]
J.B. Hunt to acquire Bassett Furniture subsidiary for $87M
A subsidiary of Lowell, Arkansas-based transportation company J.B. Hunt Transport Services Inc. has entered into a definitive agreement to acquire a subsidiary of Bassett-based home furniture manufacturer and marketer Bassett Furniture Industries Inc. for $87 million, the companies announced Monday. J.B. Hunt Transport Services’ wholly owned subsidiary, J.B. Hunt Transport Inc., will acquire[...]
