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Ports/Trade

Apr 27, 2023

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 d[...]

Apr 27, 2023

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 m[...]

These hybrid diesel-electric shuttle carriers are part of the Port of Virginia’s move to shift toward greener operations, with a goal of reaching net-zero carbon emissions by 2040. Photo courtesy Port of Virginia
Apr 27, 2023

Going greener

The Port of Virginia is preparing for a greener future that includes less reliance on fossil fuels. It’s doing this by expanding its access to cleaner energy such as solar power; replacing older, diesel-fueled equipment with hybrid and all-electric alternatives; and supporting the region’s burgeoning offshore wind industry. [...]

Apr 27, 2023

Port cranes: Cause for concern?

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. Five more cranes are scheduled for delivery next year. Manufactured by state-owned company Shanghai Zhenhua Heavy Industries Co., known as ZPMC, the cranes are a possible[...]

Apr 27, 2023

Executive insights

Leaders from Virginia’s maritime sector share their thoughts about building a workforce pipeline in Virginia, the growth of offshore wind and how climate change impacts the industry. JUDY BARRETT Virginia Maritime Association board president; TowneBank private banking officer; Norfolk VB: As president of VMA’s board, what’s your main priority this year? Barrett: My main priority […]

State Sen. Todd Pillion, who represents part of Southwest Virginia, is bullish about the possibility of bringing an inland port to his region. Photo by Earl Neikirk
Apr 27, 2023

Westward ho!

Southwest Virginia’s leaders feel confident their region will be home to the state’s next inland port. “The planets are aligning for us right now,” says state Sen. Todd Pillion, R-Washington County. “Our localities are excited about it. The state seems to be excited about it.” During the Virginia General Assembly’s[...]

Apr 27, 2023

Port of entry

By all accounts, the Port of Virginia and the overseas shipping industry as a whole are major economic drivers in the commonwealth, with an upward trajectory expected to continue. For fiscal year 2022, the port’s TEU (20-foot equivalent unit) container volume hit a record 3.7 million units, a 14.7% increase from 2021, which ma[...]

Apr 19, 2023

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[...]

Apr 13, 2023

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 […]

Recent inventory backlogs have caused Riverside Logistics and other third-party logistics providers to have to turn away some business, say vice presidents James Durfee (L) and Rick Holden (R). Shifts in consumer demand “created a huge glut of inventory that we’re still working through,” Holden says. Photo by Matthew R.O. Brown
Mar 30, 2023

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 […]

Mar 8, 2023

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 sharehold[...]

Nov 17, 2022

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 bee[...]

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