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Port of Hampton Roads

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"Combining this incredible facility with our natural assets will substantially increase the marketability of this port and position Virginia to become the leading port on the ... East Coast faster than we anticipated," McDonnell wrote in a statement about the pact, calling it a "watershed moment" for the port.

http://hamptonroads.com/2010/05/port-authority-would-pay-800-million-lease-apm-terminal

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Port authority has nothing to do with craney island I thought...I thought craney island was a private venture by maserk...am I wrong?

APM is a part of Maersk, it was and is a private venture to the south of what many consider "Craney Island". THE Craney Island terminal project is still in the works, and for some reason I have the opposite impression as you, with it being a VPA project and not a private venture. Someone clear this up...

Edited by cpeakesqr

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APM is a part of Maersk, it was and is a private venture to the south of what many consider "Craney Island". THE Craney Island terminal project is still in the works, and for some reason I have the opposite impression as you, with it being a VPA project and not a private venture. Someone clear this up...

That's correct. APM is a private terminal and the proposed Craney Island terminal is a VPA project. It's interesting that it's a privately-owned terminal that a state authority (VPA) is leasing, that another (quasi?)private corporation (VIT) will operate. I don't know of another example like that.

In sum, I think this is a good thing. It will allow the Virginia port to continue to grow business and only expand once it's really needed. I couldn't see the justification for investing over 2 billion in Craney Island when global container traffic is down 20 percent, and the tsunami of containers coming to the East Coast forecasted a few years ago doesn't appear to be coming anytime soon.

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I couldn't see the justification for investing over 2 billion in Craney Island when global container traffic is down 20 percent, and the tsunami of containers coming to the East Coast forecasted a few years ago doesn't appear to be coming anytime soon.

Plan for the future now, so that when port traffic does pick up again, the region will be able to readily transfer the incoming cargo.

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Plan for the future now, so that when port traffic does pick up again, the region will be able to readily transfer the incoming cargo.

I agree that planning for the future is a good idea, but I'd be cautious about investing such a huge chunk of public money before seeing any evidence that the existing capacity in the port will be absorbed.

I think I'm just a bit skeptical that the Panama Canal is going to be full of Emma Maersk ships destined for East Coast ports when/if the expansion is completed in 2015.

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The Virginia Port Authority has authorized the lease for APM Terminals at $865 million dollars in Portsmouth bringing all the ports in Hampton Roads are under one umbrella!

Opened in September 2007, APM’s Portsmouth facility cost roughly $500 million to build and is considered one of the most technologically advanced marine terminals in the Americas.

Valued at $865 million in today’s dollars, the base rent alone in the lease could end up costing the authority more than $1.1 billion, after adjustments for inflation, over the life of the deal.

http://hamptonroads....rminal?cid=rltd

207271.jpg?cid=omc

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Massive Tawainese ship (largest oil skimmer in the world) to help with BP spill stops in Norfolk for inspections by Coast Guard Officials! Ths ships captain claims the ship can remove oil from 500,000 gallons of oily water a day! The only problem is it has to go through a lot of government red tape.

A Whale could handle 500,000 barrels of oily water per day, or slightly less than what all the skimmers now in the Gulf have gathered in more than 60 days on the job, Su said.A no-brainer? Not quite.

Because the vessel is Taiwanese and built in South Korea, it needs an exemption from the Jones Act, a federal law requiring commercial ships doing business in U.S. coastal waters to be American-flagged.

Then there are environmental concerns. Because the ship would discharge water back into the Gulf, albeit after much of the oil had been skimmed away, the U.S. Environmental Protection Agency must go along with the deal.

Compounding the problem is that A Whale has never actually processed oily water before – though it did pass a recent test in Portugal, where foamy water was sucked into the ship’s bowels at sea and “did quite nicely,” said Bob Grantham, an executive with TMT Group.

Gov. Bob McDonnell’s administration supports the experiment and hopes A Whale is granted all necessary approvals “to see if it works,” said Matt Strader, a deputy secretary of transportation.

TMT Group has hired a Washington lobbying firm, Bracewell & Giuliani, to help negotiate a work plan with federal regulators and to create public pressure in favor of A Whale.

One reason the ship came to Norfolk was so the Coast Guard could get a good look at it. TMT held a briefing for Coast Guard officials on Thursday, and a few Coast Guard officers attended the media event Friday.

http://hamptonroads....top-norfolk#rfq

485111000.jpg

Edited by calwinston

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The Port of Hampton Roads is expanding by adding two additional cranes at APM Terminals and port traffic has dramatically increased this year with a projected revenue of 279.3 million dollars! Construction has also started at Craney Island for future expansion!

The increase is based on a projected 27.2 percent increase in container volume "as a result of the addition of the APMT-Virginia facility." The Port Authority will again be handling the Maersk and Evergreen shipping lines and their related volume.

http://hamptonroads....1m-bump-revenue

Craney Island

http://www.craneyisl...ionjuly2010.pdf

Edited by calwinston

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