Manzanillo, Colima, Mexico – Mexico has embarked on an ambitious project to transform its Port of Manzanillo, strategically located on the Pacific coast, into Latin America’s premier maritime logistics hub. Spearheaded by the Mexican Navy, the initiative aims to elevate the port’s handling capacity to an impressive 10 million TEUs (20-foot equivalent units) by the target year of 2030.
Already the largest port in Mexico and ranking third in Latin America, Manzanillo processed nearly 4 million TEUs by 2024. It currently trails only the ports of Colón in Panama and Sao Paulo in Brazil in terms of volume.
This substantial port expansion, requiring an investment of $3.243 billion, is a key infrastructure initiative under President Claudia Sheinbaum’s administration. This investment is part of Mexico’s strategy to counter economic challenges that have arisen partly from trade uncertainties linked to U.S. tariffs.
Recent analysis by the International Monetary Fund (IMF) has led to significantly lowered economic growth predictions for most countries, including Mexico. The IMF now predicts a 0.3% contraction in Mexico’s economic growth for 2025, citing the anticipated effects of U.S. tariffs on its export sector.
President Sheinbaum has voiced skepticism regarding the IMF’s projections, asserting that strategic public investment will effectively counteract economic decline. She is actively promoting “Plan Mexico,” a collaborative effort between the public and private sectors designed to invigorate domestic industry.
According to a government document released in early April, a key element of this plan’s success hinges on the modernization of Mexico’s port infrastructure, with Manzanillo playing a central role.
Interestingly, Julieta Juárez, the marketing manager for the Manzanillo terminal, reports that U.S. tariffs have not yet disrupted trade flows through the port. She explained that the majority of imports arriving in Manzanillo originate from Asia and are primarily destined for use in domestic manufacturing processes.
“At this point, we haven’t observed any significant impact [from the U.S. tariffs], nor do we foresee a substantial impact materializing in the near future,” Juárez commented.
The planned expansion will enhance Manzanillo’s capabilities in handling both containerized freight and hydrocarbon products, Juárez further elaborated. The project is slated for completion by the end of President Sheinbaum’s current term in 2030.
We Need Your Support: While other media outlets have retreated behind paywalls, at Banderas News, we believe news should be free for everyone. Would you help us provide essential information to our readers at no cost? We can’t do it without you. Your contribution helps us sustain and grow.
