菜单

Panjiva_research_logo

Mexican Ports’ Handling Surge Propelled by Steel

Corp - Ports 807 Mexico 752 Mode - Containerized 1309 Mode - Seaborne 1637

Container handling at Mexico’s ports hit the highest in at least two years in June. A 15.6% increase on a year earlier left the total at 541,700 TEUs, Panjiva analysis of official figures shows. That included a 25.5% jump in the handling of empty containers, however, with the underlying growth being 12.2%. Export activity on the Gulf coast has been the primary driver of Mexico’s trade expansion, with a 39.7% increase.

GULF EXPORTS DRIVING MEXICAN PORTS’ EXPANSION

Chart shows shipments of containers on import and export basis, segmented by coast of port. Calculations based on Mexican Communication and Transport Ministry data. Source: Panjiva

That expansion, in turn, was the result of continued growth at the port of Veracruz, Panjiva data shows, which has now expanded by 47.1% in the second quarter vs. a year prior. That was largely the result of an 3.9x jump in shipments by Tenaris, a supplier of steel infrastructure to the energy industry.

The port of Altamira, also on the Gulf coast, was slower at 16.7% for the quarter, but accelerated through the period to expand 35.3% in the month of June. That was flattered, however, by an unusual low in shipments by specialty chemicals producer Mexichem last year.

The largest port by handling, however, was Manzanillo which overtook Veracruz for the first time since October. That was a consequence of an 18.2% rise in import handling, which was led by increase imports by the local division of South Korean steel producer POSCO.

MANZANILLO’S THE MAN

Chart shows aggregate Mexican imports and exports of containerized freight segmented by port of lading / unlading. Source: Panjiva

Copyright © 2021 Panjiva Supply Chain Intelligence, a product offering from S&P Global Market Intelligence Inc. All rights reserved.