Mexico Shipping Report Q3 2010
Business Monitor International, June 2010, Pages: 94
Business Monitor International's Mexico Shipping Report provides industry professionals and strategists, corporate analysts, shipping associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Mexico's shipping industry.
Mexico's maritime sector has outperformed that of several other Latin American states in 2010; the country's 16 largest ports recorded total throughput growth of 29% in the first four months of the year. Signs of returning confidence in the maritime sector have reignited the interest of investors, and in May mining and freight transport conglomerate Grupo Mexico declared its interest in participating in tenders for the Punta Colonet port project. The tender has been delayed numerous times over the past three years as the onset of the global economic downturn and the decline in Mexico's trade volumes stifled demand for container shipping to the country's Pacific Coast. With trade gradually returning to pre-downturn levels the project is sparking interest once more and is expected to present a strong synergy with Grupo Mexico's freight railway network.
One of the main positives for the sector has been a steady uptick in container shipments from Asia to Pacific coast terminals. Increasing trade volumes have led shipping lines to expand capacity on services to and from the ports; in May 2010 the port of Lázaro Cárdenas confirmed it was set to receive a regular service of 8,500 20-foot equivalent unit (TEU) vessels operated by Maersk Line as part of the liner's AC Roundtrip service connecting East Asia with Mexico and Panama.
The improvement in port traffic and overall operating conditions in H110 aligns with our predictions of a robust recovery in Mexico's maritime sector over the year as a whole. In 2010, BMI sees Mexican trade volumes, which fell by 16.6% in real terms last year, growing at a brisk 16.2% with imports and exports increasing by 16% and 16.5% respectively. The recovery will be fed, in no small part, by the economic rebound of Mexico's largest trade partner the US, which is the end destination for much of the shipments received by Mexico's west coast ports from Asia. However, with BMI not ruling out the possibility of a double-dip recession for the US in H210, our projections carry a considerable downside risk. In nominal terms, imports will expand by 15.15% to US$295.4bn. The strongest growth in value terms will be registered by fuels, followed by ores and metals and then iron and steel. Exports will grow marginally slower than imports in value terms - up by 12.8% to US$275.1bn. The biggest export growth categories, measured in value will be fuels, ores and metals and iron and steel, in that order.
For Mexico's largest west-coast maritime facility, the port of Manzanillo, BMI is forecasting 18.2% growth in total tonnage this year, after a contraction of the same amount in 2009. By the end of 2010, Manzanillo will have handled 21.56mn tonnes. At the Caribbean port of Veracruz, meanwhile, tonnage throughput, which fell by 7% in 2009, will grow by 12.3% in real terms to 17.99mn tonnes. Both ports are expected to record a significant increase in their container handling, with Manzanillo set to lead the way with growth of 23.2% y-o-y compared with Veracruz's 17.1% increase. By the end of 2010 Manzanillo is projected to have handled 1.37mn TEUs with Veracruz handling 660,495TEUs.
Executive Summary
SWOT Analysis
- Mexico Shipping SWOT
Global Overview
- Container Shipping Overview
- Dry Bulk Overview
- Liquid Bulk Sector Overview
- Industry Trends And Developments
- Market Overview
- Port of Manzanillo
- Overview
- Terminals, Storage And Equipment
- Expansions And Developments
- Multi-Modal Links
- Port of Veracruz
- Overview
- Terminals, Storage And Equipment
- Expansions And Developments
- Multi-Modal Links
Industry Forecast
- Table: Major Port Data
- Table: Trade Overview
- Table: Key Trade Indicators
- Table: Main Import Partners
Company Profiles
- A.P. MØLLER-MAERSK
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- China Ocean Shipping (Group) Company (COSCO)
- Hapag-Lloyd
- Neptune Orient Lines (& APL)
- China Shipping (CSCL)
- Nippon Yusen Kabushiki Kaisha (NYK)
- Hanjin Shipping
- Mitsui OSK Lines (MOL)
- A.P. MØLLER-MAERSK
- Mediterranean Shipping Company
- CMA CGM
- Evergreen Line
- China Ocean Shipping (Group) Company (COSCO)
- Hapag-Lloyd
- Neptune Orient Lines (& APL)
- China Shipping (CSCL)
- Nippon Yusen Kabushiki Kaisha (NYK)
- Hanjin Shipping
- Mitsui OSK Lines (MOL)
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