The American state of Virginia has something that the Maersk-owned APM Terminals wants. The port on the American East Coast state is so attractive that APM Terminals this May to a great surprise for many offered the state USD 4 billion to run the Port of Virginia for 48 years. A spectacular offer which has met objections from a number of interest groups, Maersk Line competitors and companies affiliated to the port.
“The Port of Virginia is relatively important and covers a big part of the American East Coast. The volume handled in the Port of Virginia is not far from the volume handled in New York. Furthermore, the distance to Virginia is shorter when coming from Asia and targeting the American East Coast instead of sailing all the way to New York. So, Virginia is placed really well and is strategically very important”, a source from the industry tells ShippingWatch.