Asia-Mexico Maritime Freight Surges 50%; No “Aggressive” Increases Since April
The sudden increase in maritime freight costs between Asia and Mexico, along with the west coast of South America, has caught the attention of the business community. According to Eternity Group Mexico’s EAX index, the average cost per 40-foot container has risen by 50.18% in January 2024, marking the highest increase since April 2023. This increase is attributed to port congestion in Asia prior to the Chinese New Year, as well as the growing demand for goods to Mexico.
In Mexico, Pacific ports have experienced a significant increase in activity, with a 19.4% increase in container operations in January of this year compared to the previous year. Continuous growth in deployed capacity is expected during the first quarter of 2024, especially towards Mexico, where the demand for goods remains strong.
However, despite the expansion of shipping capacity, there is a shift towards a more sustainable fleet, with an increase in the delivery of new ships focused on reducing carbon footprint. While these investments aim for a more environmentally friendly service, they also entail an increase in operating costs, which could affect tariff equilibrium in the near future.
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