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CV International subsidiary acquires Ga. shipping company
Capes Shipping Agencies purchased Ryan Ship Services
Norfolk-based CV International Inc. subsidiary Capes Shipping Agencies announced Wednesday that it had acquired Savannah, Georgia-based Ryan Ship Services LLC. Financial terms of the transaction were not disclosed. “This merger will be a great fit for both of our companies, and the timing was perfect,” CVI President and CEO Mike Coleman said in a statement.
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Fifth District economy growth is moderate, Fed says
Rising fuel prices, labor and supply shortages limit growth
Published
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) continued to grow moderately despite supply chain issues, labor shortages and rising prices, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information
Roanoke-based TMEIC Corp. Americas buys Spanish division
Orbita's ports division transferred April 1
Published
The Roanoke-based subsidiary of crane automator Toshiba Mitsubishi-Electric Industrial Systems Corp. has completed the acquisition of Spanish maritime terminal business Orbita Ingeniería S.L.’s ports and terminals division, as of April 1. The companies did not divulge financial details. The acquisition was completed through TMEIC Port Technologies S.L. TMEIC Corp. Americas, with presences in Roanoke and
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Fifth District economy has moderate growth, Fed says
Shortages in labor and supply continue to hamper growth
Published
The Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) saw modest growth but was constrained by supply issues and labor shortages, according to the latest edition of the Federal Reserve’s Beige Book, released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information gathered
Manifest destiny
Port continues cargo growth under new leadership
Published
Taking on a new job during a pandemic could spell rough waters, particularly if the job relies on global commerce. But the past eight months largely have been smooth sailing for Stephen Edwards, the new CEO and executive director of the Virginia Port Authority, which oversees the Port of Virginia. Edwards came onboard in January,
Transportation
Maritime | Ports | Logistics
Published
ED ALDRIDGE PRESIDENT, CMA CGM AMERICA LLP AND APL NORTH AMERICA, NORFOLK Aldridge took over as president of CMA CGM America in June 2020, and he has served as president of CMA CGM subsidiary North America, the nation’s oldest ocean carrier, since 2017. In February, the French company announced the $36 million expansion of its
Fed says Fifth District economy growing moderately
Companies see increased demand but continuing labor shortages
Published
, the Federal Reserve’s Fifth District (including Virginia, North Carolina, South Carolina, West Virginia and Maryland) has been seeing moderate economic growth in recent weeks, according to the latest edition of the Federal Reserve’s Beige Book, which was released Wednesday. The Beige Book is published eight times per year and is based on anecdotal information
Norfolk shipping, logistics company to create 400 jobs through $36M expansion
CMA CGM Group to also create startup incubator in Arlington County
Published
Shipping and logistics company CMA CGM Group will keep its North American headquarters in Norfolk and invest $36 million to expand its Hampton Roads and Northern Virginia operations, creating more than 400 jobs, Gov. Ralph Northam announced Thursday. The French company opened its first Virginia office in 2002 in Virginia Beach and in 2005 moved
New Port of Virginia chief named
Stephen Edwards of L.A.-based TraPac LLC to replace Reinhart
Published
Stephen Edwards, a Los Angeles-based CEO with more than two decades of maritime industry experience, will be the Virginia Port Authority’s new CEO and executive director, the authority’s Board of Commissioners announced Wednesday. Edwards, who will start his new post Jan. 19, replaces retiring CEO and Executive Director John F. Reinhart. A U.K. native, Edwards
Transportation
Maritime | Ports | Logistics
Published
ED ALDRIDGE PRESIDENT, CMA CGM AMERICA LLP AND APL NORTH AMERICA, NORFOLK The CMA CGM Group serves 80% of the world’s commercial ports with a 502-vessel fleet and 110,000 employees. The American arm of its shipping and logistics company, based in Norfolk, has a workforce of more than 11,000 employees and serves 18 ports. In