Port officials discuss the 'new normal'

Posted: June 18, 2010

By Philip Newswanger

philip.newswanger@insidebiz.com

After a dramatic and devastating two years, port officials have decided to accept that the double-digit growth of the past 20 years is no longer a reality.

Instead, they have accepted that less than 10 percent growth is acceptable, though even at that rate, port officials said they believe Virginia will become the number-one port on the East Coast.

The downturn in cargoes over the past two years marked a turning point for the port, sanctified by a string of successes that were unprecedented.