Venezuela key factor for cargo drop in the Panamanian ports
Robert Van Trooijen, president of Maersk Line for Latin America and the Caribbean, said that this year the peak season of Asia is smoother and balanced. However, most Latin American markets have a positive growth, such as Chile with about 12% and Mexico 8%, but Brazil, with only 2%, is lower this year.
Venezuela key factor in cargo drop in the Panamanian portsVenezuela is where the problem is concentrated, because the lack of dollars in the market makes it difficult for businessmen to finance their imports.
Van Trooijen referred to falling cargo volumes of the Panamanian transshipment hub, noting that local and transit cargo depend heavily on what happens in Venezuela. According to the executive, there is an uncertainty factor, because no one knows how the rest of the year will play out.
Until the first quarter of the year, the volume of transshipment cargo through Panama had fallen 6.2% compared to the same period last year. Traditionally, the high season in the shipping industry is the third quarter when importers increase their inventories for the holiday season.
From the point of view of the regional president of Maersk Line, Venezuela is a factor in this decline, as well as economic activity in countries around Panama, Colombia and Costa Rica.
Van Trooijen referred to Maersk growth in the region and said that they move between 3% and 14% of the entire volume into and out of Latin America. “I think we’re within the three largest in the region, and we do not want a bigger share. We are happy with the current participation." “For Maersk Line, the most important thing is to achieve a stable market,” he said.
Source: thebulletinpanama.com
