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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 Be[...]
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 [&helli[...]
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[...]
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[...]
Carnival to double trips from Norfolk, proposes year-round cruising
Carnival Cruise Line announced Monday it will more than double the number of cruises it offers from Norfolk in 2023 and is working toward year-round cruising from Norfolk in 2025. Stephen Kirkland, executive director of Nauticus, shared the news from Norfolk’s cruise terminal that overlooks the harbor where ships dock, adj[...]
Lowe’s to open distribution facility in Suffolk
North Carolina-based home improvement retailer Lowe’s Cos Inc. will establish a coastal holding facility in the city of Suffolk, adding 100 jobs, Gov. Glenn Youngkin announced Thursday. Lowe’s had more than $96 billion in sales in fiscal 2021 and it operates or services nearly 2,200 home improvement and hardware stor[...]
Under construction
Hampton Roads Bridge-Tunnel Hampton and Norfolk Construction is underway along 10 miles of the Interstate 64 corridor from Hampton to Norfolk on the $3.9 billion Hampton Roads Bridge-Tunnel expansion project. In June, crews on the South Island began reassembling Mary, the 430-foot, $70 million tunnel boring machine (TBM) that wa[...]
Lease signed for Fairwinds Landing in Norfolk
The ball has started rolling on the $100 million project turning the Lambert’s Point Docks property in Norfolk into Fairwinds Landing, a maritime operations and logistics center to support the local offshore wind, defense and transportation industries. The Miller Group signed a lease for the 122-acre site owned by Norfol[...]
Skanska wins $223M contract for offshore wind farm prep
New York-based Skanska USA won the $223 million contract to redevelop the 72 acres of the Portsmouth Marine Terminal that Dominion Energy Inc. will use as a staging area for its $9.8 billion Coastal Virginia Offshore Wind project. The company announced the award on Tuesday. The CVOW calls for the construction of 176 wind turbine[...]
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[...]
Colonna’s Shipyard promotes three execs
Norfolk-based Colonna’s Shipyard Inc. announced Monday it had promoted three executives to senior management positions, effective in July. CSI has promoted Jordan Webb from vice president of contracts to vice president of shipyard operations; Randall Crutchfield from chief experience officer and executive director of Steel[...]
