One of the biggest container ports in the U.S., Port of Virginia, will not be privatized. This was decided unanimously by the port’s top management Virginia Port Authority Board of Commissioners (VPA Board) on Tuesday. Port of Virginia published the news via its blog and thereby, the billion-dollar proposal from the Maersk Group’s port company APM Terminals has been taken off the table.
For 18 months, politicians as well as hundreds of port-related companies and citizens have discussed a privatization of the Port of Virginia following APM Terminals’ bid. The total value of APM Terminals’ bid was 3.9 billion USD and reached 48 years into the future, a period during which the Maersk company would take over the operations of the entire port, including the container terminal which APM Terminals has built.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
Coal comeback prompts new trend within dry bulk: "It’s unfortunate for the climate, but it’s necessary right now"
Demand for coal is soaring in Europe due to Russia’s invasion of Ukraine, and the new market supports dry bulk carriers, say the chief execs of Lauritzen Bulkers, Ultrabulk and Golden Ocean to ShippingWatch.
Maersk Broker ready to mobilize within tanker: "Of course, we want to be part of it"
The tanker market has adjusted more rapidly than expected. Maersk Broker therefore wishes to expand business within tanker, requiring a strengthening of the organization, say top executives in an interview with ShippingWatch.
One alternative fuel may be particularly dangerous
In a new study – which Maersk, Shell, Euronav and MSC Ship Management, among others, are behind – the new alternative fuels are ranked based on how dangerous they are. The industry has to be careful with one of them, in particular.
Dan-Bunkering achieves billion-dollar revenue – set to focus on new acquisitions
Dan-Bunkering, part of fuel supplier Bunker Holding, last year saw a significant boost in revenue, with earnings coming in more flat. The bunker company will focus on mergers and acquisitions.
Analyst firm seeing signs of weakening container spot rates
Spot rates on the container market have declined in the past two weeks. The likelihood of a bigger drop in rates has increased, according to Sea-Intelligence.
Senior Legal Counsel with a focus on Offshore Renewables 
Crewing officer 
Senior Sales Manager 
Head of Vessel Operations 
Finance Controller 
Head of Airfreight 
Safety Leadership & Transformation Manager