The board of directors and the Panama Canal Authority (ACP) advisory board have met in the US city of Norfolk in Virginia to address issues pertaining to the interoceanic highway and discuss opportunities for future growth.
The boards gathered on May 15, 2018, to discuss issues relevant to the Panama Canal, such as its strong financial standing, current operations and projects, industry trends that could affect its performance, planned growth, and the development of complementary and future business opportunities.
ACP’s planning session — one of two held annually by the boards — take place once in Panama and again in a city of importance within the global maritime industry.
Port of Virginia is an important port that receives a significant amount of cargo, primarily containerized cargo.
In 2017, the port handled around 2.8 million TEUs per year, with 1.27 million TEUs in imports and 1.01 million in exports.
The growth of the port in relation to the previous calendar year was 7%.
During their time in Virginia, the advisory board and board of directors will tour the operations of the Port of Virginia, as well as several regional distribution centres including Target and the California Cartage Company located in Suffolk, Virginia, and Givens in Chesapeake, Virginia.