Market Report, "Mexico Shipping Report Q2 2013", published

From: Fast Market Research, Inc.
Published: Mon Apr 22 2013

BMI remains optimistic toward Mexico's long-term growth outlook, forecasting real GDP growth to average 4.0% between 2013 and 2022 on the back of Mexico's booming manufacturing sector, increasingly strong private consumer and favourable demographics, all of which bode well for the country's shipping and port sectors.

We are modestly revising up our 2013 real GDP growth forecast, from 3.4% to 3.6% to take into account potential for a stronger export and investment picture, in light of our recent upward adjustment to US growth. That said, this still represents a noticeable slowdown from our estimated 4.0% growth in 2012.

Headline Industry Data

* Port of Manzanillo total tonnage growth in 2013 is estimated to hit 6.6%, to reach 28mn tonnes.
* Port of Veracruz total tonnage growth in 2013 is estimated to hit 1.7%, to reach 21mn tonnes.
* Mexico trade real growth forecast at 5.2% in 2013.

Full Report Details at

Key Trends And Developments

Pemex Takes Delivery Of Two New Ships - Oil giant Pemex took delivery of two ships from South Korea's SPP Shipbuilding Group. The vessels are designed to meet the highest environmental and technology standards, allowing for an upgrade of the existing fleet, Pemex said.

Hamburg Sud Adds Two New Central America Routes - From January 2013, Hamburg Sud is offering two new services from the Mexican port of Manzanillo to Central America West Coast, as part of the wider restructuring of its Central America services. Sling 1 will connect Manzanillo with Acajutla (El Salvador), Corinto (Nicaragua) and Puerto Caldera (Costa Rica).

Risks To Outlook

The Mexican economy remains highly dependent on that of the US. Downside risk to throughput at Mexican ports is presented in the form of sluggish US consumer sentiment. With 80% of exports still destined for the US market, growth is clearly dependent on the US economy not falling back into recession.

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You may also be interested in these related reports:

- Australia Shipping Report Q2 2013
- China Shipping Report Q2 2013
- Vietnam Shipping Report Q2 2013
- Philippines Shipping Report Q2 2013
- Malaysia Shipping Report Q2 2013

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