Freight forwarding in Mexico is undergoing a quiet adjustment phase that contrasts sharply with the visible volatility of recent years. Far from the extraordinary peaks brought on by the pandemic, the market appears to have entered a stage where oversupply of capacity, weak consumption, and regulatory pressure are beginning to shape a more complex and less profitable environment for logistics intermediaries.
The clearest evidence lies in the industry’s performance during 2025. It was not a good year. The contraction in volumes and the pressure on margins affected even the most established players, in a context where supply growth—particularly in maritime transport—exceeded demand’s absorption capacity. “There was a slowdown; we saw a contraction at the industry level,” acknowledges Nicolás Portenza, CEO of Eternity Group Mexico , in an interview, describing a market that has yet to regain traction.
The problem is not temporary. The supply and demand equation has become unbalanced at a time when economies, especially in Latin America, are showing signs of weakness. The result is constant pressure on ocean freight rates , which continue to deteriorate, although without reaching critical levels. Shipping companies, more disciplined than in previous cycles, have managed to contain sharp declines through operational strategies, but the market remains far from a solid recovery.
In that adverse context, not all players performed equally. Eternity Group Mexico managed to weather the general market downturn and even close the year with positive numbers. “Having surpassed the previous year’s (2024) volumes was good, and we took great care of profitability,” Portenza points out, in an analysis that reveals a strategy more focused on operational discipline than aggressive expansion.
The outlook for 2026 is not particularly encouraging . Long-term contracts anticipate rates below those negotiated the previous year, while the spot market remains volatile, making planning difficult.
In this context, freight forwarders face a structural dilemma: compete on price or build value . The first option, while tempting in a depressed market, tends to erode margins in an industry where operating costs are increasingly difficult to absorb. The second, on the other hand, requires investment, sophistication, and a business narrative that the customer is willing to pay for.
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