Port of Virginia is making big changes to become No. 1 on the East Coast for super-sized ocean containerships

The Port of Virginia, which has Walmart as its top customer, is on track to become the widest and deepest port on the U.S. East Coast by early 2025 after a $450 million dredging project in Norfolk Harbor is completed.

A $450 million dredging project at the Port of Virginia, which began in 2019, completed its widening measures in March, allowing two ultra-large container vessels to pass each other at the same time. An ultra-large containership can carry over 20,000 twenty-foot equivalent cargo units. The dredging project is expected to be completed in Fall 2025, making the Port of Virginia the deepest and widest harbor on the East Coast.

"About one in 10, one in nine jobs within the Commonwealth, have activity attached to what we do," Edwards said."A lot of them are direct employees. Our goal is to grow the gateway which consists of all the road networks and logistics businesses within Virginia."the Delaware, a dredger vessel deepening the Port of Virginia shipping channel from 50 to 55 feet.

But if fuel prices spike, the economics will change. Maersk, the world's second-largest ocean carrier, said in its recent earnings report that the Red Sea disruptions could last until the end of 2024.Virginia has received an increase in recent trade as a result of the closure of the Port of Baltimore — up to four to six weeks of freight in the Baltimore pipeline that needed to be coordinated.

"Throughput is the holy grail for ports," Larry said."Over the years, the Port of Virginia has expanded and upgraded the technology and operating model for its central railyard. By building an efficient and flexible model early on, the port was able to be a go-to option for demand that moved away from Baltimore."

"We're only buying clean energy, we're only buying clean electric," Edwards said."In our case ... that is nuclear, wind or solar. These are long-term and expandable agreements."Dominion Energy's Orion heavy-lift vessel is parked at the Port of Virginia in Norfolk, Virginia. The Jones-Act vessel has a crane that Dominion Energy uses to move monopiles.

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