WIIT Event Summary:
Ports
101: the Port of Virginia
August 12, 2008
The WIIT Charitable Trust
hosted a briefing that provided a comprehensive view of both port terminal
operations and industry terminology. As globalization becomes a stronger force,
ports are looking to the future by expanding their capacity to accommodate
increased trade. Evelyn Suarez, Partner at William Mullen, provided introductory
remarks at this timely event. Kevin Burwell, the Director of Business Analysis
and Strategy at the Virginia Port Authority answered questions such as: What
is the difference between a port and a terminal? How big are containers? What
does FOB (free-on-board) mean? Which commodities are imported and exported
through ports (like the Port of Virginia) and how many of these commodities
do you use day-to-day? Participants also received an industry glossary of
commonly used terms.
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