A Chilean shipper has signed a five-year contract extension with the Port of Virginia that guarantees the movement of at least 45,000 TEUs (20-foot equivalent containers), the Virginia Port Authority says.

The authority announced the deal with CSAV (Compania Sudamericana de Vapores) in a press release Tuesday.

“CSAV has a long history in Virginia — nearing 50 years — and this contract will continue what has been a very good relationship,” authority interim Executive Director Rodney Oliver said.

The shipper, whose business is growing, intends to capitalize on expanding rail networks servicing the port to access the Midwest, according to Oliver.

Virginia International Terminals’ general manager and chief executive officer, Joseph Dorto, said the shipper is likely to move more than the stated minimum.

CSAV calls at Norfolk International Terminals weekly and moves some cargo into Virginia via other carriers, the release states.

The contract, expiring Sept. 30, 2017, includes a five-year extension option. Oliver hailed it as “a vote of confidence in how we are conducting business at the Port of Virginia.”