Port of Virginia announces over EUR 130 million investment in 36 Konecranes Automated Stacking Cranes to improve capacity and efficiency

Corporate press releases

Konecranes will provide 36 state-of-the-art Automated Stacking Cranes (ASCs) to The Port of Virginia® for a major capacity expansion investment that is part of the port’s ongoing drive to improve operational efficiency, capacity, and competitiveness in the global shipping market.

The order’s value is over EUR 130 million and it will be booked in Q2 2023. The ASCs are for the Norfolk International Terminals North Terminal project and will be delivered in two batches of 18 units, with the initial batch planned for delivery by mid-2025 and the subsequent batch anticipated to arrive by mid-2027. By placing this latest order, the Virginia Port Authority – owner and operator of The Port of Virginia’s five general cargo terminals
– is once again showing its unwavering trust in the capabilities of Konecranes to deliver dependable and effective terminal solutions.

The Port of Virginia is a multipurpose port serving global markets. Its modern infrastructure, strategic positioning, and commitment to efficiency make it a vital gateway for international trade, benefiting various industries and economies throughout the country. The port is a longtime Konecranes customer, having received its first delivery of 30 ASCs in 2007 and subsequently ordering a further 86 in 2016.

The order highlights Konecranes' dedication to its Ecolifting and Path to Port Automation initiatives. These efforts aim to reduce clients' carbon footprints by offering innovative and eco-friendly solutions while concurrently aligning port equipment with their visions for yard automation.

A strong focus on customers and commitment to business growth and continuous improvement make Konecranes a lifting industry leader. This is underpinned by investments in digitalization and technology, plus our work to make material flows more efficient with solutions that decarbonize the economy and advance circularity and safety.

For a concise overview of Konecranes’ business, please click here. Konecranes’ Port Solutions overview can be found here. For a useful glossary of crane and lifting terms, please click here.

Further information:
Jussi Suhonen, Vice President, Regional Sales AME, Port Solutions
[email protected]

Matthew McConnochie, Marketing Manager, BU Solutions
[email protected] or phone +44 (0) 7860779844

Further information for investors and analysts:
Kiira Fröberg, Vice President, Investor Relations, Konecranes
Email: [email protected] or phone: +358 20 427 2050

This release can be found on Konecranes.com. For more information on the Port of Virginia please visit its web site at www.portofvirginia.com.

Konecranes is a world-leading group of Lifting Businesses, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2022, Group sales totaled EUR 3.4 billion. The Group has approximately 16,600 employees in around 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).