Port of Virginia agrees to 10-year deal with MSC

Bush administration presents annual trade report    The Virginia Port Authority said Monday that its operating company, Virginia International Terminals, signed a long-term contract with Mediterranean Shipping Co., the world's second-largest ship line.
   The 10-year contract was finalized Feb. 24 and goes into effect Friday and guarantees that MSC will have an annual throughput of 65,000 containers. The service will be relocated from Newport News Marine Terminals to Norfolk International Terminals' south berth.
   The value of the contract was not released by port officials.
   'The people at MSC are confident that they'll be moving about 100,000 boxes a year through our port,' said Joe Dorto, VIT general manager.
   MSC's vessels have been calling at the VPA's terminals since 1986, and the company now has an annual guarantee of 20,000 containers. Dorto estimates that 65 percent of the port's business is now secured with 10-year contracts. The port already has such agreements with the Grand Alliance, CKY, China Shipping and Turkon.