Virginia overcomes economic slowdown to post container growth

The VPA says its 2008 trade balance average stands at 56% exports and 44% imports. Its data show loaded exports up by 14% and imports down 5% from last year. From January through October, container volume, including loads and empties, totalled 1,759,996 TEUs.

“The (US) dollar’s value overseas works in favour of exporters, so we’re working with our domestic clients to find ways to build their business running through our port and there are some things that are lining up in Virginia’s favour,” Mr. Capozzi said.

In late November, CMA-CGM and Maersk Line announced a new service that will link the Virginia port with markets in Asia, the Mediterranean and Africa (Advisory, December 1, 2008). This service will deploy 6,500-TEU container ships, the largest to call at the Port of Hampton Roads in a regularly scheduled service.