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☆ Port of Virginia is making big changes to become No. 1 on the East Coast for super-sized ocean containerships
  + stars: | 2024-05-09 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +11 min
The dredging project is expected to be completed in Fall 2025, making the Port of Virginia the deepest and widest harbor on the East Coast. "Ultra-large container vessels have challenged every port," said Stephen Edwards, CEO of the Port of Virginia. Edwards said the port was able to quickly absorb Baltimore freight because of the ocean carrier service overlap in calling on the Port of Virginia, Baltimore and Port of New York/New Jersey. In January, the port became the first East Coast port to power all its terminals with 100% clean energy, eight years ahead of the 2032 target it set for that goal. The expansion will increase the fleet at NIT to 152 electric stacking cranes, seven electric rail cranes, and 31 electric ship-to-shore cranes.
Persons: Lori Ann LaRocco, Stephen Edwards, " Edwards, Edwards, It's, Good Hope, D'Andrae Larry, Larry, Jones, monopiles, Monopiles Organizations: NIT, CNBC, U.S ., Commonwealth, Walmart, Maersk, Port, Baltimore, Rail, Norfolk International, Uber, Virginia Department of Transportation, Dominion Energy, Rappahannock Electric Cooperative, ClearView Energy Partners, of Ocean Energy, U.S, District of Columbia, Dominion Locations: Port of Virginia, Port, Virginia, U.S . East Coast, Norfolk, Coast, of Virginia, East Coast, U.S, Delaware, South, Southeast Asia, Northeast Asia, India, Red, Suez, Good, Baltimore, Port of Baltimore, Port of New York, New Jersey, of Virginia's, Commonwealth, Norfolk , Virginia, East, Virginia Beach
☆ Port of Virginia CEO on plans to become the No. 1 destination for ultra-large vessels
  + stars: | 2024-05-09 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPort of Virginia CEO on plans to become the No. 1 destination for ultra-large vesselsStephen Edwards, CEO of the Port of Virginia, explains how massive container ships have upended port economics and why the completion of a $450 million dredging project in Norfolk Harbor will lead the port to the top position in servicing these vessels on the East Coast of the U.S.
Persons: Stephen Edwards Locations: Port, Virginia, Port of Virginia, Norfolk, East Coast
☆ Baltimore port bridge collapse: Global ocean carriers declare 'force majeure,' leaving U.S. companies on hook for urgent cargo pickup
  + stars: | 2024-03-27 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +10 min
"The impact of the Baltimore port stoppage on construction and contractor supply chains may be significant," said William George, director of research for ImportGenius. "For cargo already on water, we will omit the port, and will discharge cargo set for Baltimore, in nearby ports. COSCO announced Wednesday morning that its services would "be concluded" once the diverted container arrives at the alternate port. Out of the diverted ports, New York/New Jersey and Savannah, are included. One of the biggest concerns among logistics companies is availability of chassis for both truck and rail to handle the diverted cargo.
Persons: Dali, Francis Scott Key, William George, ImportGenius, Maersk, COSCO, majeure, CGM, Paul Brashier, Brashier, Matt Castle, Robinson, Val Noel, Mike Wilson, Noel, Alan Baer, Baer, Stephen Edwards, Edwards Organizations: Francis Scott Key Bridge, Logistics, CNBC, Baltimore, Evergreen, CMA, ITS Logistics, U.S Department of Transportation, Home Depot, Nike, Walmart, Union Pacific, BNSF, Robinson, DHL, FedEx, Port, DOT's, Rail, TRAC, Freight, Consolidated Chassis Management, USA, Norfolk . Our Midwest Locations: Baltimore , Maryland, Baltimore, The Port, U.S, Port of Baltimore, Target, East, , New York, New Jersey, Savannah, Chicago, Brunswick, Virginia, Charleston, New York, Philadelphia, Norfolk, Wilmington , Savannah, Jacksonville, UAE, Saudi, Doha, India, Bangladesh, NY, Montreal, Port of Virginia, Port
☆ East Coast ports including New York are winning a domestic trade war at the expense of California
  + stars: | 2022-12-15 | by ( Lori Ann Larocco | ) www.cnbc.com   time to read: +10 min
According to ITS Logistics which monitors rail cargo trends, the volume of freight moving out of the East Coast doubles that of the West Coast. East Coast ports making major investments East Coast ports like Georgia, Virginia and Maryland have been increasing their investment to accommodate the increase in rail capacity. "CSX continues to see the East Coast ports as a growth opportunity as volumes shift from congested West coast gateways," said Cindy Schild, CSX spokesperson. West Coast port declinewatch nowCargo volumes on the West Coast remained soft at the Port of Los Angeles in November, which saw a 21% decrease year over year in volumes. While the East Coast gains are significant, there was a "leveling" off of imports detected on the East Coast in November, according to port TEU data from the CNBC Supply Chain Heat Map.
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