The increasing size of container ships is beginning to place new demands on the infrastructure of Mexico’s main container port. Contecon Manzanillo announced on Tuesday that it has received authorization from the Regional Port Authority to receive vessels with drafts of up to 15.5 meters , a condition that expands the range of ships it can handle and opens the door to operations with larger cargo volumes per port call. 

According to the company, the authorization makes its terminal the only one in the port of Manzanillo that currently has this operational condition, which allows it to serve large capacity container ships , including the so-called Ultra Large Container Vessels (ULCV), capable of transporting up to 24,000 20-foot containers (TEU). 

Beyond the increased draft, this move is significant because of the transformation underway in international maritime transport . The deployment of larger vessels on major trade routes requires ports to have not only sufficient depth, but also docks, cranes, yards, and processes capable of handling increased container traffic during each port call. 

This evolution also reflects the shipping lines’ pursuit of economies of scale. Large container ships allow for the concentration of greater cargo volumes in a single voyage, while newer generations of vessels incorporate technologies aimed at optimizing fuel consumption and reducing emissions per container transported. 

For Contecon, the authorization for the 15.5-meter draft is also part of an infrastructure expansion process aimed at preparing the terminal for this shift in the global fleet. It currently operates with STS cranes capable of handling large vessels and, as part of the next phase of its project, plans to add two new Super Post Panamax cranes in September. 

The strategy, however, aims further.  The terminal intends to eventually reach an operational draft of 17 meters , a depth considered in the design of its new docks, which could further expand its capacity to receive vessels with larger cargoes. 

“This authorization represents a strategic step for the development of our terminal and confirms that the investments made in infrastructure are in line with the evolution of international maritime transport. It is also the first step towards our goal of achieving an operational draft of 17 meters, the design draft of our new docks, which will allow us to receive vessels with more cargo, strengthen the competitiveness of the Port of Manzanillo, and offer greater capacity to our clients,” said José Antonio Contreras, CEO of Contecon Manzanillo, in a press release. 

This approach is particularly relevant in a port where the growth of containerized cargo demands a simultaneous expansion of both maritime and land-based capacity. The arrival of larger vessels can increase the volume unloaded and loaded during a single port call, but it also increases the pressure on yards, equipment, access points, and the various links in the chain involved in the movement of goods. 

Therefore, draft is only one piece of a larger equation. For Manzanillo, remaining on the routes served by new-generation vessels will depend on the capacity to receive them from the waterfront advancing alongside sufficient infrastructure and efficiency to handle the larger volumes these ships can carry. 

In this context, the authorization obtained by Contecon represents a new step in the port’s adaptation to the evolution of international maritime transport. While shipping companies continue to seek economies of scale through larger vessels, terminals face the challenge of anticipating this transformation and preventing ship sizes from outpacing the available infrastructure to accommodate them. 

For the first seven months of this year, the port of Manzanillo had handled 2,455,953 TEUs , 11.7% more than the same period last year, of which Contecon Manzanillo accounted for 1,022,182 TEUs (+20.1%), according to statistics from the National Port System Administration (Asipona) Manzanillo . 

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The escalation of the conflict in the Middle East has disrupted maritime traffic through the Strait of Hormuz, affecting energy markets and global supply chains , the United Nations Conference on Trade and Development (UNCTAD) warned .

According to an analysis by the international organization, the Strait of Hormuz is a vital passage for world trade, and the overall global economic impact will depend on the duration of the constant attacks, attributed to Iran’s offensive within the framework of the conflict it faces with the United States-Israeli axis.

“These events raise concerns about global trade and development prospects. Oil markets have reacted quickly, with Brent crude prices already exceeding $90 per barrel, a 27% increase,” the UNCTAD study stated.

He noted that rising costs for energy, fertilizers and transportation —including freight rates, ship fuel prices and insurance premiums—could lead to higher food prices and “intensify pressures on the cost of living, especially for the most vulnerable.”

UNCTAD estimated that ship traffic through the Strait of Hormuz, through which approximately a quarter (25%) of the world’s maritime oil trade passes, has virtually stopped, registering a drastic 97% drop in daily transits.

According to the analysis, disruptions in the Strait of Hormuz are jeopardizing energy supplies , particularly to Asia. As a result, liquefied natural gas (LNG) prices have risen by 74 percent.

In maritime transport , freight costs for tankers have risen by up to 72%, while the price of marine fuel has doubled. Risk premiums for vessels operating in the area have increased by 300%, quadrupling insurance costs per voyage in some cases, adding to the overall cost of shipping.

The implications go beyond energy. The report highlighted that 38% of LNG and a third (33%) of the world’s maritime fertilizer trade depend on this route.

The lack of access to these supplies threatens to drive up food prices globally again, repeating patterns seen during the COVID-19 pandemic and the start of the conflict in Ukraine.

The impact is especially severe for developing nations, which rely heavily on imports from the Persian Gulf region. Countries such as Sudan, which imported 54% of its fertilizers in 2024, Australia (32%), Sri Lanka (36%), and Tanzania (31%) are among those most vulnerable to shortages of agricultural inputs.

Furthermore, the increase in bond yields in countries of the region, such as Kuwait and Saudi Arabia, reflects an increase in borrowing costs that exacerbates the economic pressure on public finances.

UNCTAD calls for de-escalation

Given this scenario, UNCTAD stressed the urgent need to de-escalate tensions and safeguard civilian infrastructure and freedom of navigation. The vulnerability of maritime traffic hotspots underscores the fragility of a highly interconnected global trading system, where a blockade like the one in the Strait of Hormuz can jeopardize sustainable development and social stability worldwide.

“To reduce risks to global trade and development, including environmental risks, it is necessary to de-escalate the situation and safeguard shipping, ports, seafarers and other civilian infrastructure, while maintaining safe trade corridors in accordance with international law and freedom of navigation,” he stressed.

The current situation in the Strait of Hormuz comes at a time when several developing economies are struggling to pay their debt, facing a constriction of fiscal space, and have a limited capacity to absorb further increases in input and output prices.

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In the Mexican maritime-port sector, the lack of in-depth debate is not an accident: it’s part of the design. This was the argument put forth by Hugo Gómez, a consultant and instructor with decades of experience in maritime affairs, when presenting * Seas al límite. La pugna por una nueva gobierno oceánica * (Seas at the Limit: The Struggle for a New Oceanic Governance ) – available on Amazon – a book that doesn’t seek institutional complacency, but rather aims to open an uncomfortable conversation about the structural shortcomings that Mexico faces in maritime governance, research, and training

The book —a compilation of 65 reports written over five years— functions as a map of pending issues. “It’s like a kind of research catalog of topics that are still pending for the academic sector,” Gómez explained in an interview with T21 , emphasizing that much of the content engages with now unavoidable global agendas, such as marine sustainability, the role of European NGOs, and the entry into force of the High Seas Agreement (BBNJ). It is not a book focused on current events: it is an inventory of omissions.

From ocean governance to the transformation of port cities, the author confronts the reader with a system operating without real checks and balances. Cases like Tampico—with its port reconversion project—or the historical role of Petróleos Mexicanos (Pemex) on the Mexican coast appear not as local anecdotes, but as symptoms of an exhausted model. “We have many types, various typologies of ports that demand special treatment (…) and that is not being studied,” he warned.

One of the book’s most critical points is the near-total absence of maritime and port academic research in Mexico. For Gómez, this isn’t a lack of talent, but rather an institutional vicious cycle: “There’s no research because there aren’t any PhDs within the institution, and without PhDs, no research is done .” This diagnosis directly impacts the Maritime and Port University of Mexico (UMPM) —formerly Fidena—where, he says, neither reading nor critical thinking is encouraged, and where students don’t graduate with theses, but rather with “little projects” that don’t contribute to knowledge.

The critique is not abstract. Gómez recalled his experience at the International Maritime Organization (IMO) during a doctoral internship, where he identified another major shortcoming of the system: the inability to translate scientific language for the general public . “Many of the problems we face stem from a lack of information for the community… scientists write for scientists, and ordinary people have no idea,” he explained. This experience fueled his conviction to write in accessible language, first with * The Blue Economy* and now with *Seas at the Limit *.

The information deficit not only limits social awareness, but also blocks participatory processes. Gómez recalled an academic exercise carried out in Manzanillo, where universities were invited to reflect on the port-city relationship. The project failed when the Mexican Navy (Semar) denied access to basic information . “They refused to provide information, much less allow photographs… the students became discouraged, some even dropped out,” he explained. The message was clear: without data, there is no research; without research, there is no sound public policy.

This closed-minded approach is reflected in the lack of institutional checks and balances. Although the Ports Law includes provisions for citizen advisory committees, Gómez emphasized their practical uselessness: “The law states that the administration is not obligated to heed the recommendations… that’s essentially the same as doing nothing.” According to the author, a new ocean governance model demands that these mechanisms be binding, not merely decorative.

The specialist also touched on other uncomfortable topics during the interview, such as the crisis surrounding deepwater projects like Trion (a deepwater oil field in Mexico developed by Woodside and Pemex); the unlearned lessons of Macondo (the oil field in the Gulf of Mexico where the Deepwater Horizon disaster occurred in 2010, the largest oil spill in U.S. history); the technical weakening of agencies like Mexico’s Agency for Safety, Energy and the Environment (ASEA) ; and the budget cuts at the Ministry of Environment and Natural Resources (Semarnat) . All of this is happening while Mexico faces global debates such as deep-sea mining, about which, he warned, society remains uninformed.

Another critical issue is the training and treatment of seafarers. Gómez denounced a tacit alliance between shipowners, states, and international organizations to keep seafarers on board, deliberately limiting their training in areas such as logistics and management. “They don’t make them more competent because they’ll go ashore,” he stated . This logic is even replicated within the Mexican Navy, where, he noted, professional profiles were modified to prevent job mobility off the ship.

Likewise, other current issues were addressed during the interview, such as his rejection of the purchase of a new training ship by the port authority in Mexico, which summarizes Hugo Gómez’s position: without a profound reform of the educational and governance model, any investment is doomed to failure. “Mexico should not buy that ship (…) under that scheme, it is condemning it to failure,” he stated, recalling the history of corruption surrounding the Náuticas México . For Gómez, the resources would be better invested in a modern maritime university, focused on research, innovation, and maritime economics.

The diagnosis is completed by a generational clash. The new generations, he argued, find no place in a militarized system that stifles creativity . “They are training sailors for the 20th century, for a world that no longer exists,” he stated, warning that without freedom of thought, innovation is impossible.

Seas at the Limit is not just a compilation of texts: it’s a warning. In a country with over 11,000 kilometers of coastline, maritime potential remains underutilized due to a lack of vision, research, and governance. Gómez even issued a direct message to the new government: “Mexico needs to talk in terms of maritime economics… how can we take advantage of all this?” The question remains open, but the diagnosis is now clear.

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The  container charter market  in  2025  is on track to become the best year since the  COVID-19 pandemic, as rates remain at “very healthy” levels for all classes of vessels, according to  Alphaliner .

“ The container charter market is ending 2025 on a sustained upward note , with high demand showing no signs of slowing, while charter rates remain at very healthy levels for all classes of vessels,” the consultancy said.

“Given that this trend is not expected to change in the coming weeks, it is safe to say that 2025 will be the strongest year the market has enjoyed outside of the post-COVID-19 freight boom years ,” he added.

Despite an unprecedented level of disruption and uncertainty at the political, geopolitical and macroeconomic levels around the world, the market has shown “remarkable resilience during the year, overcoming most of the challenges it had to face,” the entity emphasized.

“US tariffs, port fees, instability in the Middle East, the situation in Ukraine, as well as falling freight rates and the uninterrupted flow of new ship deliveries, have been obstacles that the market has successfully overcome,” he remarked.

Despite the above, there were also tailwinds, as “the detours around the Cape of Good Hope continued to be a blessing in disguise, since the much greater sailing distances on a typical voyage from Asia to the Atlantic basin helped to absorb a large number of vessels that would otherwise have been unwanted,” Alphaliner pointed out.

“Stronger-than-expected cargo volumes, particularly on North-South and regional trade routes, also helped to mitigate any risk of overcapacity. As a result of this high demand, tonnage supply was adjusted throughout 2025, despite a steady influx of new vessel deliveries and negligible scrapping volumes,” he added.

In its latest count of vessels in the spot charter market, Alphaliner sees only two ships currently idle worldwide, an all-time low . Similarly, figures for commercially idle tonnage continue to evolve at record lows, with the container ship fleet considered “fully employed.”

“The year 2026 should see a large-scale return of container shipping traffic through the Suez Canal. While the disruptions such a move will cause in the short term have the potential to boost tonnage demand, the long term looks bleak, with shorter sailing distances expected to make a substantial number of vessels redundant,” Alphaliner stated.

“In addition, 1.4 million TEUs of new shipbuilding capacity will enter service. Some might argue that this isn’t much considering the 3 and 4 million TEUs of new builds expected in 2027 and 2028. However, this will contribute to swelling a fleet that is likely already in oversupply mode due to the reopening of the Suez Canal. This combination could be toxic and put both freight and charter rates under significant pressure, unless cargo volumes continue to surprise, as they did in 2025,” he concluded.

With information from  Portal Portuario , a media outlet specializing in ports and maritime transport in Chile.

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Due to increased tariffs and political uncertainty worldwide, which is impacting cargo activity and complicating investment decisions, Fitch Ratings estimated that the outlook for seaports in North America and Europe, Middle East and Africa (EMEA) will be “deteriorating” by 2026 .

The rating agency detailed that, in North America, ports are facing disruptions due to policy changes.

“Fitch expects nominal declines in 2026 volumes amid low GDP growth and an adverse tariff environment. A temporary de-escalation between the United States and China offers limited relief,” the international organization explained in its analysis.

Higher US tariffs on construction raw materials may increase capital input costs or delay projects, although cruises provide some compensation, but remain sensitive to consumer confidence.

The study noted that the “deteriorated” outlook for EMEA reflects Fitch’s expectations of modest or stagnant maritime trade as higher tariffs take effect .

“We expect eurozone GDP growth to be around 1.3% in 2026. The long-term trade trajectory between the United States and China is the key uncertainty in our outlook,” he said.

Meanwhile, European operators face divergent volume trajectories and “softer” trading conditions.

Current security risks in the Red Sea and the Suez Canal, as well as sanctions-driven diversion, are reshaping flows, with uneven trends in the Mediterranean and Northern Europe.

“Capacity additions in Antwerp and Rotterdam, as well as the expansion of Mersin in Turkey and Limak in 2027, are aimed at easing tensions after near-maximum utilization in 2025 and labor-related delays,” the report detailed.

The outlook for seaports in Asia-Pacific (APAC) and Latin America is “neutral” , reflecting a relatively resilient regional dynamic.

“In APAC, volumes are cushioned by strong intraregional activity, while recent trade agreements with the United States have reduced uncertainty for exporters,” he noted.

In Latin America, maritime trade remains resilient, supported by strategic trade routes and increased agricultural exports, and the performance of seaports is expected to extend the recovery beyond 2025, despite tariff and geopolitical challenges.

Fitch’s estimates maintain a cautious outlook for North America and EMEA, with deteriorating sectoral prospects.

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With 37 years of experience, Naviera Integral reaffirms its position as one of Mexico’s most consistent companies in the maritime sector , basing its operations on principles that have become its hallmark: legality, transparency, and technical excellence. Throughout these decades, the company has consolidated a strategic presence in the country’s main ports, offering specialized vessel management and coastal shipping services with the highest standards of safety and operational efficiency.

Since its founding, Naviera Integral has developed projects for public and private institutions through formal and transparent processes, strengthening a reputation based on strict regulatory compliance. This approach has allowed it to build long-term institutional relationships and advance steadily in a market that demands reliability, professionalism, and proven technical expertise.

The company has evolved by adopting international certifications in ethics, anti-corruption, quality, safety, occupational health, and environmental protection, consolidating a corporate culture that prioritizes responsibility and continuous improvement. These global standards are now one of its main operational assets and a differentiator within the national maritime industry.

With a forward-looking vision, Naviera Integral is preparing to embark on a new phase of growth based on more efficient and sustainable technology, aimed at expanding its presence in the Gulf of Mexico and the Caribbean. Under the leadership of Juan Pablo Vega Arriaga , the company maintains an active role in business organizations and strategic initiatives for the country’s energy and logistics development. On its 37th anniversary, Naviera Integral reaffirms its commitment to Mexico, its clients, and the building of a more modern, safe, and competitive maritime industry.

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Within the Mexican port network, Veracruz has consolidated its position as one of the most dynamic gateways for international maritime trade.

Its connectivity with the United States, Europe, the Mediterranean, and Latin America , as well as its historic logistics focus, have made it a key hub for supply chains that support key sectors of the national economy.

Today, this port is undergoing an unprecedented transformation, driven by the expansion works in Bahía Norte, which in the medium and long term will triple its cargo handling capacity and strengthen its position as a continental-scale logistics hub .

In the first half of 2025, Veracruz handled 14.7 million tons of cargo , a figure that reflects its resilience to the ups and downs of global trade.

This dynamism is no coincidence: it responds to a modernization program that includes the expansion of fluid, multipurpose, and container terminals, as well as increased infrastructure for bulk agricultural and mineral cargo.

The federal government estimates investments of 55.179 billion pesos over the coming years, aimed at strengthening the capacity and competitiveness of the country’s strategic ports, with Veracruz as a key player.

The event will bring together leading business leaders, port terminal leaders, shipping company representatives, authorities, and academics to discuss the challenges and prospects of maritime trade and logistics in a complex global environment.

The opening ceremony will be led by Fernando Con y Ledesma, president of Amanac, and will include the participation of the governor of Veracruz, Rocío Nahle García; Francisco Cervantes Díaz, president of the Business Coordinating Council (CCE) ; and Alejandro Malagón Barragán, president of the Confederation of Industrial Chambers (Concamin) , among other key players in the sector.

The Congress’s thematic axes will include debates on port infrastructure and national strategy, smart terminals and strategic connectivity, maritime education and human capital development, best practices in port security in Latin America, port investment and modernization in Mexico, as well as environmental innovation and ecological governance.

In addition, keynote lectures will focus on artificial intelligence applied to foreign trade, economic indicators, USMCA strategies, and geoeconomic dynamics in the maritime industry.

More than just a sectoral meeting, the 29th Amanac Congress is emerging as a strategic platform for coordinating public policies, business strategies, and technological trends aimed at Mexico’s maritime and port competitiveness.

The choice of Veracruz as the host country reaffirms its role as a continental logistics and trade platform , at a time of profound transformation in international trade and the supply chains that support it.

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Faced with adjustments due to geopolitical and structural pressures, the United Nations Conference on Trade and Development (UNCTAD) warned of the stagnation of global trade and maritime transport resulting from the tariff policy promoted by the United States.

“Political tensions, new tariffs, changing trade patterns, and the reconfiguration of maritime routes are reshaping the geography of maritime trade,” the organization stated.

According to its report,  Shipping in Review 2025: Staying the Course in Troubled Waters , released Wednesday, global seaborne trade grew by 2.2% in volumes and 5.9% in ton-miles in 2024, but is forecast to slow by 0.5% in 2025 , “before averaging 2% annually over the period 2026-2030.”

He detailed that maritime energy trade patterns showed a shift, with coal increasing, oil remaining stable with longer routes, and gas also registering an increase.

The report highlighted that trade in critical minerals is expanding, creating opportunities, but also risks. “These developments are transforming maritime trade and placing new demands on transport and logistics .”

According to the agency’s analysis, there were route changes due to various situations, such as the Red Sea crisis in 2024, which caused an increase in freight rates . Added to this were geopolitical tensions this year, such as the disruption of maritime activity in the Strait of Hormuz .

“The Strait of Hormuz, through which 11% of global trade and a third of seaborne oil trade flow, also faces disruption risks. The diversion to longer routes will increase carbon emissions from shipping in 2024,” he explained.

UNCTAD noted that new tariffs in the United States and other countries have added complexity. For developing economies , the rerouting could create transshipment opportunities at some ports, but would also increase maritime transport costs.

Regarding fleet renewal , he indicated that safe vessel recycling, global standards on greenhouse gas emissions control, and a skilled workforce are key to a timely and just transition to low- carbon shipping .

In the face of geopolitical and trade disruptions, he considered that freight rate volatility has become the new normal.

“Container, bulk, and tanker freight rates have remained high and volatile in 2024 and 2025, with sharp fluctuations amid geopolitical tensions, shifts in trade policies, and supply-demand imbalances. This instability is increasing global trade costs,” he emphasized.

Vessel diversions have lengthened voyages, reduced effective capacity, and raised operating costs, impacting container shipping , with spot and charter rates nearing their COVID-19 pandemic peaks in mid-2024 before declining, “but still well above pre-crisis levels. Volatility has continued into 2025 amid new tariffs and the risk of disruptions in the Strait of Hormuz.”

The report warned that ports are under increased pressure as vessel diversions and rescheduling of ports of call disrupt schedules.

“Between December 2023 and March 2024, average port waiting times increased by 23%, to 6.4 hours in developed economies, and by 7%, to 10.9 hours, in developing economies,” he added.

In this regard, he indicated that it is urgent to improve port performance, as well as adapt the infrastructure and services of these facilities to the impacts of climate change and modernize them for the energy transition.

Faced with an adverse environment, UNCTAD proposed various actions to improve maritime transport. In this regard, it considered that we must move toward a sustainable, resilient, and digitalized future .

He suggested leveraging maritime transport and logistics for equitable integration and transformation , promoting fleet modernization and sustainable maritime trade practices, implementing regulatory measures to reduce greenhouse gas emissions, as well as utilizing digital solutions and strengthening the regulatory framework to address cyber risks, among others.

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“This agreement ensures certainty of supply and allows us to expand the use of renewable, waste-based fuels without compromising the quality and reliability our customers expect. Leadership in shipping means acting today, not waiting for future solutions,” said Jan Christensen, Senior Director of Global Fuel Procurement at Hapag-Lloyd AG.

Liquefied biomethane, derived from organic waste such as crops, manure, and food, enables a seamless transition to clean energy without the need to modify the equipment of Hapag-Lloyd’s LNG vessels , one of the world’s leading liner shipping companies.

The use of liquefied biomethane is part of the company’s strategy to achieve net-zero fleet operations by 2045 .

For its part, Shell, since 2024, has expanded its supply network to include liquefied biomethane at 22 locations around the world , facilitating access to this renewable fuel for global operators.

This infrastructure allows biomethane to be injected into local networks, liquefied, and distributed under a balanced-mass model, optimizing its availability without disrupting existing logistics.

“Bio-LNG is no longer a concept: it’s here, driving the next chapter in shipping decarbonization. Long-term agreements like this build the confidence needed to scale renewable fuels,” emphasized Dexter Belmar, Shell’s global vice president of Downstream LNG.

Liquefied biomethane represents an affordable solution for reducing shipping emissions . Its production is certified under the ISCC EU standard, ensuring raw material traceability, process sustainability, and verification of emissions reductions throughout the fuel’s lifecycle.

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According to its earnings report, the group’s earnings before interest and taxes (EBIT) decreased to $700 million and profit to $800 million during the period.

According to the shipping company, in addition to trade changes in the United States, port congestion and the tense security situation in the Red Sea also affected operations.

In the liner shipping segment , the firm’s revenue increased to $10.386 billion in the first half of 2025, representing an 11.4% increase compared to the same period last year, when it was $9.32 billion.

This was primarily due to an 11% increase in shipping volumes to 6.7 million 20-foot containers (TEU) , compared to 6.1 million TEU in the same period in 2024, driven by growth in east-west routes.

In its report, the shipping company indicated that at $1,400 per TEU , the average freight rate was similar to the previous year’s level of $1,391.

“In a volatile market, we significantly increased our transport volume and ended the first half of the year on a solid note overall. We have gotten our Gemini network off to a very successful start and are setting new standards in our industry in terms of schedule reliability. Furthermore, we have made significant progress in the expansion of Hanseatic Global Terminals ,” explained Rolf Habben Jansen, CEO of Hapag-Lloyd AG.

In the first half of the year, the terminals and infrastructure segment achieved an increase in sales and profits. EBITDA amounted to $79 million, compared to $71 million in the same period in 2024, representing an increase of 11.3 percent.

EBIT, in turn, increased by 12.1% to $37 million, compared to $33 million in the first half of last year.

“Furthermore, the terminal portfolio was further expanded in March 2025 with the acquisition of a majority stake in CNMP LH in Le Havre, France,” the report noted.

Due to the strong commercial performance achieved in the first half of 2025, in line with expectations, the Board of Directors adjusted its earnings forecast for fiscal year 2025.

In this regard, the group’s EBITDA is expected to be between $2.8 billion and $3.8 billion , and EBIT between $250 million and $1.25 billion. “Given the wide range of geopolitical challenges and the volatility of freight rates, the forecast remains subject to considerable uncertainty.”

“In the second half of the year, we will maintain our focus on quality and growth, as well as operational and commercial performance, while continuing to optimize our cost structure. At the same time, we will do everything in our power to help our customers navigate this volatile market environment, and we expect more new trade agreements to make their supply chains more predictable,” emphasized Rolf Habben Jansen.

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