Altamira Closes 2024 as the Second Fastest-Growing Port in Mexico

The Port of Altamira ended 2024 as the second fastest-growing port in Mexico, surpassing Manzanillo, Veracruz, and Coatzacoalcos. This achievement was driven by an increase in general cargo handling, liquid bulk, and a new record in vehicle exports.

Growth and Market Performance

According to data from the General Coordination of Ports and Merchant Marine, Altamira recorded a 1.5% increase in cargo movement, reaching 20.4 million tons. Only Lázaro Cárdenas surpassed this growth, with a 14.3% increase and a total of 31.2 million tons.

Key Factors Behind the Growth

A significant contributor to this growth was the export of over 500,000 vehicles manufactured in Mexico, representing a 12.6% increase in this sector. Other increases were observed in breakbulk cargo (8.8%), containers (7%), and petrochemical fluids (5.6%).

New Investments in Altamira

In November 2024, the logistics company Multimodal Altamira announced an investment of 100 million pesos to expand its operations at the port, responding to the increasing demand for imports and exports. This investment includes the expansion of its meat inspection facility and the doubling of its bonded warehouse, aiming for significant growth in meat product movement by 2025.

Future Projections for 2025

For the first quarter of 2025, multimillion-dollar investments are anticipated in Altamira, focusing primarily on the petrochemical and hydrocarbon industries. International companies plan to expand the port’s docks, enabling it to accommodate a higher volume of vessels and diversify operations with cargo from various global regions.

Altamira: A Strategic Hub for Trade

These initiatives not only strengthen Altamira’s position as a strategic port in Mexico but also stimulate regional economic development, creating jobs and attracting new investments.

Are you looking to understand how these developments might impact your logistics strategy? Reach out to us today for insights and updates on the ongoing situation.
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