ShippingWatch

Why Virginia is important to Maersk

The Port of Virginia is one of the few ports on the American East Coast capable of handling containerships bigger than 10,000 teu which will be able to pass the Panama Canal from 2014-2015. “Virginia is located very well and is strategically very important”, an industry source tells ShippingWatch.

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.

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
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Banks keep tabs on offshore wind – at a safe distance

In the next ten years, more than 100 new vessels for installation and maintenance of offshore wind are needed, and the offshore wind market is growing strongly. But shipping banks continue as bystanders for the time being.

Related articles

Latest news

See all jobs