Combined,
the global shipping industry posts revenue of around $9 billion. Mexico’s 2900 Km of inland rivers play a very minor role in the transportation system. There are various freight and logistics services inland, and shipping serves internationally.
All of Mexico’s system of state-owned ports are administered by Puertos Mexicanos-PM. As far as general cargo – especially goods to and from Mexico City – Veracruz is the most important of Mexico’s ports.
The TMM corporation is one of the largest companies in Mexico’s shipping and logistics sector. The Chinse company Hutchison Whampoa Limted, which control 12% of the world’s container port capacity, has a major presence at Lazaro Cardenas seaport and numerous other Mexican ports. Both ends of the Panama Canal are effectively controlled by this company. The canal is one of the most important shipping routes to every country in the Americas.
Punta Colonet is slated to receive a $4 billion seaport, courtesy of the Mexican government. Planned to be completed by 2014, this seaport will rival all the major seaports in the Americas, containers from Asia will be offloaded here and then transported to their respective destinations. This port is intended to be the central hub for a new shipping route linking America’s heartland to the Pacific Ocean. The port is rumored to be the largest infrastructure improvement in the history of Mexico. Shipping is one of Mexico’s most important income sources, and the port is expected to provide a major boost to the shipping industry. The project will bring financial growth to Mexico, and compete with the dominant shipping industry from the US.
Overall the shipping industry is still maturing to its full potential on this Latin paradise and it’s just a matter of time before their revenues match that of the United States and the Chinese shipping industries. Also, this project will help accelerate customs import processing and prevents clog of shipments in Mexico giving the shippers and customers ease and hassle-free in shipping to Mexico.
