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The Virginia Port Authority plans to extend VIG terminal lease by several decades and the governor wants to use bonding authority to borrow $350 million for other port improvements.
The Office of Management and Budget approved of $1.35 million in funding for the U.S. Army Corps of Engineers to conduct a cost-benefit study for a new lock in Sault Ste. Marie, Mich.
The Transpacific Stabilization Agreement's 15 members plan a $1,200-per-FEU rate hike on Asia-U.S. West Coast trade Jan. 1 and want a minimum rate of $1,700 per FEU to the U.S. West Coast in 2016-17 contracts.