The presence of an oil slick in Manzanillo Bay mobilized maritime, port, and environmental authorities, as well as Petróleos Mexicanos (Pemex) , who are conducting an investigation to determine the origin of the hydrocarbon detected on June 2nd in the vicinity of the tourist pier and the Maritime Terminal of the state-owned company.

According to the Mexican Navy (Semar) , the contingency resulted in the activation of the Local Contingency Plan for Spills of Hydrocarbons and Potentially Hazardous Noxious Substances in Mexican Marine Zones, after the National Port System Administration (Asipona) Manzanillo reported the presence of the contaminant in waters near the city’s historic center.

The first inspections carried out by specialized personnel made it possible to identify “scattered patches of surface iridescence in the water” , which were concentrated around the perimeter barriers of the Pemex Maritime Terminal, a situation that triggered the application of response protocols to contain a possible environmental impact.

As part of the emergency response, the Mexican Navy (Semar) deployed a joint operation with the Pacific Naval Force, the Fourteenth Naval Zone, and ASIPONA Manzanillo to carry out cleanup efforts and determine whether the presence of the hydrocarbon was due to an isolated incident or a continuous source of contamination. The response included the deployment of 200 meters of containment booms from the Mexican Navy ship “Comala,” with support from a tugboat, two Defender-class vessels from the Naval Search, Rescue, and Maritime Surveillance Station (ENSAR), and a Go-Fast vessel.

These efforts were complemented by the installation of an additional 270 meters of barriers as structural support for the containment work, along with another 450 meters placed at the Pemex Maritime Terminal. Naval authorities stated that the cleanup and recovery of the hydrocarbons continues, with the goal of preventing or mitigating damage to the marine ecosystem.

As containment efforts in the water progressed, Pemex reported that it is maintaining inter-institutional coordination to help identify the source of the oil spill. The company stated that personnel from the Federal Maritime Guard, Asipona Manzanillo, the Mexican Navy, and Pemex itself conducted verification tours of docks, beach pipelines, and facilities at the maritime terminal.

As a result of the inspections carried out on June 2 and 3, Pemex assured that “the facilities are operating under normal conditions and without evidence of damage or incidents associated with the event,” ruling out so far any indications that directly link the contingency to a visible failure in its infrastructure.

The company also reported that it is maintaining constant coordination with the Mexican Navy, Asipona Manzanillo, and other relevant authorities to monitor the investigations . It also announced a new pipeline inspection with the participation of the Ministry of Environment and Natural Resources (Semarnat) , the Federal Attorney for Environmental Protection (Profepa) , Asipona, and Civil Protection, as part of the efforts to determine the origin of the hydrocarbon.

In its statement, Pemex reiterated “its commitment to protecting the environment, the safety of its operations, and the timely attention to any situation that could represent a risk to the communities and ecosystems where it carries out its activities,” while the investigations continue.

For its part, the Mexican Navy emphasized that the central purpose of activating the contingency plan is “to establish actions for the containment and recovery of the oil spill in the sea in the shortest possible time to prevent or mitigate damage and pollution to the marine environment.” In this regard, the agency reaffirmed its commitment to protecting the marine environment and ensuring the safety of port activities, in a situation that keeps authorities under close observation while the origin of the substance that reached the waters of Manzanillo Bay is determined.

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El cargo Oil spill under investigation off the port of Manzanillo apareció primero en T21.

The Mexican Chamber of the Maritime Transport Industry (Cameintram) ratified José Manuel Urreta Ortega as its president for the 2026 term , during the organization’s annual assembly held at the Confederation of Industrial Chambers (Concamin) , in an event where Admiral Gerardo de Jesús Toledo Guzmán, Undersecretary of Maritime and Port Affairs of the Secretariat of the Navy , swore in the National Board of Directors.

Upon assuming his second year at the helm of the agency, Urreta Ortega expressed his gratitude for the trust placed in him by the country’s shipowners and their counterparts in the Mexican government and legislature, while outlining the key areas of focus for this new phase. “We have promoted efforts to incentivize shipbuilding and coastal shipping in Mexico , and we aim to maintain active collaboration in the development of policies to foster and develop the national merchant marine, in order to defend and promote greater participation by shipowners, service providers, and related maritime transport activities in Mexico,” he stated.

In his message, he stressed that port modernization will be a key factor for the sector’s growth, noting that “the progress of infrastructure projects will allow us to absorb the projected increases in maritime operations in the coming years.”

As part of its 2025 review, the organization reported progress in strengthening its institutional relationship with the Mexican Navy, the Port Captaincies and Maritime Affairs Unit, the National Customs Agency of Mexico (ANAM) , as well as with the authorities of the Interoceanic Corridor of the Isthmus of Tehuantepec (CIIT) and the Navy Commission in the Chamber of Deputies . It also promoted new short sea shipping routes in coordination with the Port of Miami, in addition to holding working sessions with Petróleos Mexicanos (Pemex ) to address issues related to payments to suppliers.

In international matters, Cameintram maintained collaboration with the International Maritime Organization on issues related to the decarbonization of the sector.

By 2026, the organization plans to continue its institutional collaboration with the federal government, particularly with the Secretariat of the Navy, as well as strengthen its relationship with Petróleos Mexicanos (Pemex). Among its strategic projects, the Florida Project stands out, focused on developing short sea shipping routes between ports in the Gulf of Mexico and the state of Florida

The business leader pointed out that the sector’s main challenges are linked to the relocation of production chains, which demands greater efficiency in ports and fleets, as well as improvements in safety and connectivity in coastal shipping operations to reduce costs and transit times. In this context, he emphasized the opportunities presented by the Interoceanic Corridor of the Isthmus of Tehuantepec and the sector’s participation in the renegotiations of the North American trade agreement.

Regarding cabotage, the aim is to increase the activity of affiliated companies in segments such as oil, offshore , mineral bulk, agricultural bulk and general cargo, in addition to strengthening coordination with authorities on regulatory issues, navigation permits and certifications.

Cameintram also promotes the development of shipyards in the country to strengthen shipbuilding and the national merchant fleet, which, according to the organization, would contribute to job creation and increased revenue, although this requires conditions such as legal certainty, financing schemes and customs facilitation.

In parallel, the sector faces the challenge of complying with international regulations for the reduction of polluting emissions, in line with the International Maritime Organization, as well as advancing in the adoption of digital tools and artificial intelligence for route optimization, vessel monitoring and supply chain management.

At the close of his remarks, Urreta Ortega emphasized the importance of maritime transport for the country’s foreign trade: “In this second year of work, we will sail together towards a more competitive, sustainable, and proudly Mexican maritime transport industry.”

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El cargo Urreta returns to lead Cameintram apareció primero en T21.

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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El cargo Seas at the Limit: Mexico’s Maritime Debt apareció primero en T21.

Just last Sunday, August 17, around 9:00 p.m., Edgar Sánchez’s testimony expressed a tone of alert, ” Take your precautions, I just stopped to fill up with gas and of the eight pumps, only two were working. In addition, they could only sell me 20 liters because there was no gas, oh, and only cash!”

Despite the testimony, Petróleos Mexicanos (Pemex) had published a few hours earlier: “The incidents reported last week in Nuevo León, Chiapas and the Valley of Mexico were due to maintenance adjustments, which have already been addressed 100% and supply has been fully regularized,” a situation that at least in the east of Mexico City did not coincide with reality.

” The problems we are facing are due to a lack of logistics on the part of Pemex , because transportation providers have the PR (type of permit) configurations to be able to supply service stations directly from the storage terminals,” a hydrocarbon-specialized transporter told T21, asking not to be identified.

Regarding the shortage, another transporter consulted by T21 explained that, based on information within the sector, of the more than two thousand tankers that the federal government acquired in 2019, it is public knowledge that some were recovered by financial companies due to non-payment, a version confirmed by another transporter.

“The issue is that they don’t fully understand how logistics can be implemented, and that it’s not just about operating Pemex tankers under the protection of the Ministry of Defense, but also about taking advantage of the infrastructure of transporters who operate with Pemex and who have the capacity,” described one of the businessmen.

Just last July, nearly 150 transportation companies serving Pemex renewed their service contracts, allowing them to continue operating services for the state-owned company for six years. Their infrastructure could serve areas with water shortages.

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El cargo Gasoline shortages caused by inefficient logistics at Pemex apareció primero en T21.

After months of uncertainty over U.S. tariff policy, the construction sector has shown signs of recovery, especially in the private sector, which “is doing well,” according to the Mexican Chamber of the Construction Industry (CMIC) .

Since January, the agency noted, the value of private sector production has experienced a steady rebound, with growth of 3.8% in the last month, surpassing the 1.8% previously recorded. Construction companies have achieved four consecutive months of improvement , overcoming what had been a prolonged decline.

However, the outlook is different in the public sector, where declines persist in areas such as transportation and urbanization , which decreased by 37% in the last month, and in oil and petrochemicals , which fell by 42% , although the slowdown has been less than in previous months.

Regarding the General Law on Public Works and Services , the CMIC indicated that there is still no date set for the meeting with the President of the Chamber of Deputies , Sergio Gutiérrez Luna , although work continues on strategic points to strengthen dialogue and ensure solid proposals for future working groups.

Pemex and the debts

Luis Méndez , president of the CMIC, noted that Petróleos Mexicanos (Pemex) has begun paying its suppliers’ debts, but expressed concern about “hot spots” such as Coatzacoalcos, Veracruz, where up to 179 debt incidents have been reported.

“There are already amounts of 300 or 400 million pesos (mdp) that were paid a few days ago, and we hope it continues along the same lines,” the executive said.

He added that diagnostic tests have been conducted in all 44 boroughs, but that “red flags” have been identified, such as in Ciudad del Carmen, Campeche, and Poza Rica, Veracruz, among other areas affected by the oil company’s nonpayment.

“We were talking about the amounts in this assessment collection; we’re at approximately 2.8 billion pesos in debt, which has begun to be paid off. We expect progress to continue, however, we’re very concerned about these cities and the debts they owe,” Méndez said.

The executive also emphasized that they are in talks with Pemex’s director, Víctor Rodríguez, and with the head of the Energy Secretariat , Luz Elena González, to not only address the debts, but also to open dialogue and collaborative work.

National Development Plan presented

On the other hand, the CMIC presented the National Development Plan 2025-2030, which seeks to improve sustainable infrastructure and sustainable development in Mexico’s industries.

One of the points is that it establishes energy sovereignty and the transition to clean sources as strategic objectives, through 51 projects aimed at generating an additional 22,000 megawatts by 2030, ensuring that up to 45% of the energy comes from renewable sources.

In addition, the plan seeks to ensure that small and medium-sized enterprises (SMEs), particularly in the construction sector, are certified in public policies such as the Climate Change and Sustainability Education Program, which facilitates access to green financing.

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El cargo CMIC shows signs of recovery in construction apareció primero en T21.

The Mexican Chamber of the Construction Industry (CMIC) expressed its concern about the reform of the Public Works and Services Law and announced that it will present a proposal to modify some of its articles.

Luis Méndez, president of the organization, said that under the backdrop of major projects underway by the current administration, such as the railways and the modernization of Mexico City International Airport (AICM) , the sector is seeking to become more competitive and expand its scope of participation in these types of projects.

“There’s a lot to be done in the law. We have three or four points that we’re concerned about. We’ve spoken with the Speaker of the Chamber of Deputies, in a very constructive dialogue, where we’re signing a collaboration agreement to set a standard for collaboration with them. We’re designing proposals for these adjustments that were made, where we see potential for improvement, including amending some articles of the law,” he said.

At a press conference, he reiterated that his proposal will be presented to legislators in the coming weeks.

José Alfonso Carrillo, Technical Coordinator of Information and Sector Assistance at CMIC, explained that among the problems they detected in the “recently patched law” are those related to bidding, where the concern is the lack of transparency in these competitions , as well as the elimination of Compranet and the discretionary nature of the awarding of projects.

“What we were asking for was reform and to give teeth to the social witnesses, so that they would have greater responsibility and compensation, but they disappeared and the citizen component will be incorporated. With the new law, citizens are being invited, and we’d have to see if they have the expertise of this chamber and years of experience in what happens on the projects,” he said.

Méndez added that the organization was not convened to analyze this reform , although the approach with the legislators was positive for conducting a dialogue on their proposals.

It should be noted that in early April, the Senate approved the proposal submitted by the federal government, which seeks to establish contracting strategies to ensure that the State obtains the best market contracting conditions for the execution of public works or the contracting of its services, as well as the obligation to include justification for contracts between public entities.

Therefore, among the actions proposed are updating the public procurement system and creating the Digital Public Procurement Platform , the main objective of which is to automate the entire public procurement process.

Pemex debt

Likewise, he reported that Petróleos Mexicanos (Pemex) currently has a debt of nearly one billion pesos with companies in the construction sector and affiliated with the CMIC. He even confirmed that the lack of payments is already causing the closure of some of these companies.

“The Pemex issue is critical. There are many outstanding debts for members in Salina Cruz, Coatzacoalcos, Poza Rica, and Minatitlán. Some payments have been made, but they are very few, which is causing a crisis for members. We are about to speak with the director of Pemex to raise awareness, but there are significant debts,” he said.

On Tuesday, Mexican President Claudia Sheinbaum confirmed that Pemex has already paid nearly 60% of its debts to suppliers.

According to Energy21 , Pemex owes its suppliers and contractors 404 billion pesos, an 11% increase in the first quarter of this year.

In just one year, this debt increased by 39 billion pesos, from the 364 billion pesos recorded in the first quarter of last year.

The outstanding payment to suppliers represents the second-highest short-term liability facing the oil company, surpassed only by the short-term financial debt of 561 billion pesos, but above taxes and fees payable, outstanding accrued accounts and expenses, derivative financial instruments, and other items.

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El cargo CMIC will propose amending the Public Works and Services Law. apareció primero en T21.

Trareysa is undergoing one of its most ambitious stages: consolidating its position as the leading hydrocarbon transportation company in Mexico , under the leadership of Felipe Emmanuel García Hernández, its General Director of Transformation.

With nearly 600 units in operation , a national presence, and an international division with 40 units in Texas under the name Trareysa LLC , the company plans to grow 30% by 2025 and climb positions in the national ranking of the sector.

“We are laying the foundation to achieve a very aggressive goal: to be among the top 15 transportation companies in Mexico by 2030,” García said.

With more than two decades of history , the company seeks to continue evolving. In 2024, Trareysa managed to reduce its accident rate by 40% thanks to a strategy that combined operational, technological, and organizational actions.

This was complemented by the implementation of preventive methodologies and the refinement of operator profiles. Furthermore, the road safety committee, which previously met only after an accident, now meets weekly to anticipate risks.

“We don’t just look for drivers; we look for the best. Today, more than a license, we require experience and commitment. That has been key to changing the culture,” García explained to T21.

The company also implemented a demanding recruitment model , requiring extensive operator experience. This strategy is reinforced by a competitive salary structure, above the national average, which has helped reduce staff turnover and maintain an average of five years’ seniority among operators.

In 2024, it also stood out for having key certifications such as the Socially Responsible Company (ESR) , in addition to obtaining the Drive is Great certification, aimed at recognizing those companies that have successfully managed their operators by building solid structures, having qualified talent, organizational capabilities and innovative processes.

The company also promotes preventive maintenance , route optimization, and monthly training on environmental and safety issues. All of this is aimed at minimizing impacts and ensuring compliance with local and international standards.

The company’s operating structure consists of seven divisions : Industrial, Carriers (focused on Pemex interrefineries), Burgos, Derivatives and Lubricants, Pressure and Vacuum (for wells), International, and Marketing. This segmentation has allowed it to diversify its service portfolio, adapt to the challenges of the economic climate, and serve different sectors with specialized solutions.

“Our big challenge this year is to consolidate what we’ve built: to ensure the operation doesn’t get out of hand due to uncontrolled growth. Many are already buying units or gaining customers, but few stop to check if they’re doing things right,” García said.

With operations throughout the Gulf of Mexico and a network spanning from Baja California to Yucatán, the company maintains a presence in strategic terminals in Tamaulipas, Nuevo León, Veracruz, Villahermosa, and the Iberian Peninsula, with active operations in Mexico City, Chihuahua, and Coahuila, among others. Currently, 80% of its operations are focused on services for Petróleos Mexicanos (Pemex) .

Although he acknowledged that economic uncertainty and tariff announcements , such as those promoted by US President Donald Trump, are creating tension in the sector, Felipe García asserted that the diversification strategy and focus on hydrocarbons have partially shielded them.

In the first quarter of 2025, Trareysa is already reporting growth of over 100% in its transportation services. And while other companies in the sector prioritize filling vacancies quickly, Trareysa is committed to raising the bar. The long-term goal is clear: to double its fleet and become the largest hydrocarbon transportation company in the country.

The company continues to adjust its consolidation strategy based on the progress made and future goals set. The path to greater participation in the sector is underway.

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El cargo Trareysa’s new route: efficiency, expansion, and leadership apareció primero en T21.

The Tehuantepec Isthmus Railroad (FIT) plans to transport cargo from Petróleos Mexicanos (Pemex) and will carry out a pilot test to transport 600 cars from the largest South Korean automobile manufacturer.

“We are finalizing the contract to provide the service to Pemex. We have acquired 600 polyethylene hoppers. We already have a letter of intent that will begin producing it again in two months, so we made the investment to move three types, which will run along the line and which we will move to the interior of the country,” said Héctor Rubio Antonio, Deputy Director of Operations at FIT.

He said that this product is produced by the companies Braskem Idesa, located in Coatzacoalcos, Veracruz, and in the Pemex petrochemical complex La Cangrejera.

Regarding the movement of cars, he explained that the pilot test will be carried out next March for the first 600 cars that will arrive from Asia to Salina Cruz, to later take them to Coatzacoalcos and from there they will get on a ship to reach the east coast of the United States.

To this end, he explained that they have 33 automaxes and will add 250 more , as they expect to be moving finished vehicles by next June, “they will not be sold in Mexico but will be used for direct cargo, we are going to make interoceanic crossings.”

He mentioned that one of the great challenges of the FIT is that 10 percent of the total tons handled in the country by rail are moved.

He also estimated that the rehabilitation of Line K , which runs through the states of Oaxaca and Chiapas and has 472 kilometers of railway track, will be completed this year. This infrastructure includes the modernization of 526 bridges, 387 drainage works and 459 tracks, as well as the construction of three passenger stations.

He explained that the Navy is working on three fronts to complete this work, the first from Ixtepec to Arriaga, Arriaga to Mapastepec and Mapastepec to Ciudad Hidalgo.

“The physical progress of the works is almost 62% on roads, 43% on bridges, so the first rehabilitated section for cargo and passengers will be delivered by the middle of this year,” he said.

Currently, the FIT has 20 locomotives that can move up to seven thousand tons in a single train. “We want to have three-kilometer trains, carry as much cargo as possible, move it from Coatzacoalcos to Salina Cruz.”

There are also more than 10 locomotives to make movements in Coatzacoalcos, Matías Romero and Salina Cruz. They also have more than 1,300 cars, including 194 bulk hoppers that move up to 130 tons.

As well as 104 vans to transport 177 cubic meters that allow them to move palletized cargo, groceries and auto parts. 50 articulated modules for the movement of 20-foot and 40-foot containers, among other railway equipment.

“We want to create a great diversification for current and new clients, to move all their containerized cargo, bulk, agricultural, automotive, cement, oil and general cargo. And through the Asiponas Multi-Use Terminals and the Specialized Container Terminals, in 2025 we will move 150 thousand TEUs, but in less than 10 years we want to move 1000% and reach 1.4 million TEUs in 2036 without taking the rest of the cargo,” he said.

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El cargo Rafael Marín Mollinedo leaves the WTO; returns to Mexico to take over as general director of ANAM apareció primero en T21.

Following President Claudia Sheinbaum ‘s announcement of investments in Mexico by at least four companies for around 20 billion dollars (mdd) , the global firm that offers commercial data, CIAL Dun & Bradstreet , analyzed some of the current administration’s economic goals, among which it considered the relocation of production lines ( nearshoring ) as one of the growth factors, although it pointed to public debt as a risk.

He indicated that Sheinbaum Pardo committed to promoting nearshoring by taking advantage of the trade relationship with the United States and Canada, countries that make up the Treaty between Mexico, the United States and Canada (T-MEC) .

In this sense, Mexico is the one that should benefit the most from this phenomenon due to the advantages it has: a strategic location, logistics production chains developed with the United States and qualified labor, among others.

In addition, the country is expected to report a trade surplus of $256 billion in 2024, a figure that would be historic “that has marked a clear change of direction since the validity of NAFTA (North American Free Trade Agreement) ,” said CIAL Dun & Bradstreet.

In its analysis, Cial Insights: Economic and Financial Monitor, highlighted that during this period, Mexican exports to the United States grew by an average of 8.3% annually , while imports from the United States grew by 5.7% annually .

Currently, Mexico is already the main exporter to its northern neighbor, so the new administration must “tread carefully” to carry out the review of the T-MEC in good terms, which will be in 2026,” the firm stated.

Another point that the company considered was the stability of energy prices , which is why the current government has proposed that the costs of electricity, domestic gas, gasoline, diesel, and others not increase in real terms during this six-year term.

It also stated that the Gross Domestic Product (GDP) of the electricity industry fell by 6% annually on average during the previous six-year period . “At this time, this industry is still 27% below its 2018 production level. It needs to grow at high rates to recover and get out of this crisis,” the report highlighted.

CIAL Dun & Bradstreet, in its Economic Monitor section , Decline in Industrial Production , indicated that this sector is facing a slowdown in the economy, which could lead to national GDP growing only 1.2% this year, as projected by several financial institutions.

In this context, he noted that in August industrial production fell by 0.3% annually , which was its worst figure since the beginning of 2021, “after the recession caused by the COVID-19 pandemic.”

“At the moment, the industrial sector is affected by the 4.1% annual decline in construction and the stagnation of manufacturing (only 0.7%). After growing 3.5% in 2023, the industrial sector would advance just 0.5% in 2024 and would remain stagnant in 2026 (0.4%). Bad numbers for this sector, which accounts for 30% of the national GDP,” he stressed.

Regarding the exchange rate, he recalled that on October 11, the Bank of Mexico (Banxico) closed the day at 19.40 pesos per dollar, which represented a depreciation of 0.97% that week.

Following the approval of the judicial reform, the exchange rate has remained stable , even with a slight appreciation, and the estimate of 19 pesos per dollar is expected to be maintained at the end of 2024, although pressures are expected due to the elections in the United States, the company said.

In the Special Report section, interpretation of public debt , he explained that it increased by almost 6.8 trillion pesos between 2018 and 2024, and noted that this year it will be equivalent to 50.1% of GDP. He indicated that a public debt that exceeds 50% of GDP in the following years makes it one of the most important risk factors for the Mexican economy , to which are added the pressures on public finances.

This analysis comes after the uncertainty generated among investors by the reform of the Judicial Branch , as well as the expectations due to the recent change of government in Mexico, now headed by President Claudia Sheinbaum.

It also occurs in a context of moderate investment, an economy that is slowing down, as well as a weakening of internal and external demand, which have led BBVA Research to make downward forecasts of the growth estimate for 2024, from 2.5% to 1.2 percent .

It should be noted that on September 18, the  Federal Open Market Committee (FOMC) of the United States Federal Reserve cut the funding rate by 50 basis points (bp) , leaving the rate between 4.75 and 5.00 points , which could affect Mexico due to the close trade relationship it has with the United States.

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El cargo Nearshoring could trigger Mexico’s economic growth; public debt is a risk factor: CIAL Dun & Bradstreet apareció primero en T21.

The next director of Petróleos Mexicanos (Pemex) , Víctor Rodríguez Padilla, announced that the oil company will not only focus on the hydrocarbon sector, but will also be present in the renewable energy sector during the next six years.

“Pemex is not going to limit itself to making oil, gas, condensate and everything it has always done. No, now we are going to do new projects, we are going to have associations with society, with universities, with businessmen to do the projects of the future. We are going to make wind energy, offshore wind, solar, strategic materials,” he stated at a press conference.

He mentioned that 88.8% of energy consumption comes from fossil sources and Pemex must contribute towards moving towards a future where the energy sector is less aggressive with the environment.

He announced that crude oil production will be maintained at 1.8 million barrels per day  to supply refineries, and recognized that during this six-year period important progress was made to increase production from 1.6 million barrels.

“Another achievement is the reduction of debt, Pemex was forced to go into debt to pay taxes and had one of the most aggressive tax regimes in the world,” he indicated.

He stated that in the last six years progress has been made in rescuing Pemex,  after the company was destroyed by neoliberal policies.

“They gave us a devastated company in ruins with refineries falling apart and we are in the process of increasing capacity, improving the refineries, we limit imports and we are close to reaching self-sufficiency. “It has been an effort to rescue a company that is reviled in the media, but it has given so much to Mexico,” he said.

During the announcement of the appointment of Rodríguez Padilla as director of Pemex, the elected president of Mexico, Claudia Sheinbaum, also announced that the current director of the oil company Octavio Romero will remain in the cabinet, and will give the details soon.

Who is Víctor Rodríguez Padilla?

Rodríguez Padilla has worked mainly in the academic field, he is a physicist and a master in energy engineering from the National Autonomous University of Mexico ,  he has a doctorate in Energy Economics from the University of Grenoble, France.

He has also been an advisor in the Senate of the Republic, the Chamber of Deputies and the Superior Audit of the Federation.

El cargo Pemex Will Bet on Renewable Energy: Víctor Rodríguez apareció primero en T21.