A Look at the Mexico Shipping Industry

The combined annual revenue of the shipping industry worldwide is in the $9 billion neighborhood. The country has around 2900 km of inland river, though that plays a very small role in the country's transportation system. Shipping companies serve internationally, and inland various freight and logistics companies serve the purpose.
Mexican Ports (Puertos Mexicanos - PM) is the controlling entity in charge of administering Mexico's network of state owned ports. Veracruz is the most important port in Mexico for general cargo, especially for goods coming in and out of Mexico City, Mexico’s capital.

The TMM Corporation is one of the dominant shipping and logistics companies currently in Mexico. Controlling 12% of the world's container port capacity, Hutchison Whampoa Limited has a significant presence in many of Mexicos seaports. The Panama Canal is an important shipping route to every country in the Americas, and it is effectively controlled by this company at both ends.

Punta Colonet is planned to be the site of a new $4 billion dollar seaport by the Mexican government. The port is planned to rival all major seaports in the Americas, offloading Asian containers and sending them to the destinations. The port should be finished by 2014. The port is designed as the linchpin to a new shipping route that will link America's heartland and the Pacific Ocean. The construction of the port will be the largest infrastructure improvement taken on by the Mexican government. This project will provide a huge boost to the Mexican shipping industry, which is among the country's most important income sources. The project, aside from the financial growth, is expected to compete with the dominant shipping business in the United States.

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.