The Virginia Port Authority has signed an agreement with an Indian shipping and logistics agent to try to lure more Indian cargo to the Port of Virginia.
VPA has seen its import/export volume from India nearly double since 2002, and now wants to grow its links in the Subcontinent, the authority said Friday.
"Trade with India accounts for a consistently growing share of the Port of Virginia's business and because of that, the Virginia Port Authority recently contracted with an experienced firm to represent the VPA in that country," VPA said in a statement. "In late 2007, the VPA and PL Shipping & Logistics Ltd. signed an agreement for that company to represent the VPA in India's primary manufacturing centers, inland transport hubs and major container ports. The company will promote the shipment of Indian cargo via the Port of Virginia, highlighting the port's geographic advantages, operational efficiencies and its intermodal reach."
In 1994, VPA terminals handled 8,490 TEUs coming from or headed to India; in 2006, the VPA handled 62,860 TEUs in its trade with India. The average annual growth in trade between Virginia and India, since 1994, has been 17 percent. In 2006, India ranked No. 6 in total container volume.
"PL Shipping's experience and network give us a base for creating awareness about this port among India's shippers and service providers," Bridges said. "From there we can offer trade support and logistics collaboration."
Having VPA representation in India fulfills a recommendation of VITAL, a state task force that is focused on building strong international business ties. The task force -- Virginia International Trade Alliance -- urged VPA and the Virginia Economic Development partnership establish some form of representation in India.
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