THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Friday, September 30, 1994 TAG: 9409300565
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
SOURCE: BY CHRISTOPHER DINSMORE, STAFF WRITER
LENGTH: Short : 32 lines
Virginia International Terminals Inc. said it will raise its rates for container traffic in the port of Hampton Roads an average of 1.8 percent starting Oct. 1, while rates for break-bulk cargo will remain unchanged.
The new rates, published in the port's annual tariff book, are less than the average rate increases expected at ports that compete with Hampton Roads, port officials said.
Virginia International Terminals operates Norfolk International Terminals, Portsmouth Marine Terminal, Newport News Marine Terminal and the Virginia Inland Port near Winchester for the Virginia Port Authority.
VIT officials said they decided to hold the line on rates for noncontainerized cargo, so-called break-bulk commodities such as cocoa beans, plywood and rubber, to help keep the port competitive. Hampton Roads is handling less of those commodities so far this year.
The port's rate system is extremely complex. Rates vary widely depending upon the type of cargo and how it is handled. The tariff book is more than 50 pages long.
Linda Ford, a port authority spokeswoman, said the container rate increases were necessary. ``They're not being raised arbitrarily,'' she said. ``Our increases are below the cost-of-living.'' by CNB