APM Terminal’s TEC2 Wrapping Up Phase 1

The phase I of the USD 900 million semi-automated deep-water Lázaro Cárdenas Terminal 2 (TEC2) project at Mexico’s second-busiest container port will open soon with 750 meters of quay and 1.2 million TEU annual throughput capacity, according to APM Terminals.

The company said that it has forged ahead with the project despite lagging global and regional Latin American economic growth, and sluggish global container shipping growth rates, with the full expectation that the 1.2 million TEU annual throughput capacity added to Mexico’s port infrastructure will have an immediate impact on Mexico’s trade growth.

“Mexico is not only the second-largest economy in Latin America, but also one of the world’s Top 15 manufacturing economies, including having become one of the world’s top five car makers, and we feel that investing in Mexico’s continuing economic and trade progress is a sound business strategy,” notes APM Terminals CEO Kim Fejfer, who toured the TEC2 site on Mexico’s Pacific Coast earlier this week.

At full build-out, TEC2 is projected to double the quayside to 1,485 meters, increase the number of STS cranes from seven to fifteen, and more than double annual throughput capacity to 4.1 million TEUs.

APM Terminals is investing into the country is it wants to tap into the country’s projected economy growth, which according to the International Monetary Fund (IMF), will rise by 2.6% in 2016 and by 2.9% in 2017.

Manufacturing, and the supply of components destined for Mexican factories for assembly and export to the USA as well as overseas, has become an increasingly important sector of Mexico’s USD 1.16 trillion economy since the North American Free Trade Agreement (NAFTA) linked the US, Canadian and Mexican markets 22 years ago.

The USA is the destination of 78.8% of Mexican exports, and also provides 49.1% of Mexico’s imports, followed by China (16.1%) and Japan (4.5%).

Mexican ports handled a combined 5.4 million TEUs in 2015, reflecting a growth rate of 7%, far outperforming global container market growth of just over 1% for the year. Throughput at the Port of Lázaro Cárdenas rose by 6% in 2015 to 1.05 million TEUs, trailing only Manzanillo, with 2.4 million TEUs handled in 2015.

 

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

The 5th CWC China LNG & Gas International Summit

Gain Access to Global LNG & Gas Decision Makers in China

Take a peek inside our 2019 Introductory Brochure and stay on top of this rapidly developing market.

See who is already working with us this year as Speakers, Sponsors and Partners – download your Preview Brochure today and meet them in Beijing on 15-16 October 2019.

As the world’s second largest LNG importer, China will remain the biggest contributor to global LNG demand growth in the foreseeable future. Network with global LNG & gas decision makers, buyers, NOCs and Government Officials at the industry’s leading international event in China.

More info

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >