+26.9%
TEU growth since 2019
The Signal Behind the Data
Explore what Manzanillo's trade data reveals about scale, structural change and the dynamics beneath aggregate activity.
10 minIntelligence Report
Pacific Intelligence
This report is part of the MZO Intelligence platform and presents an editorial analysis based on regional context, public information and strategic interpretation.
Data Intelligence
The Signal Is in the Structure
Manzanillo's trade data points to a system whose scale has expanded over time, but whose internal structure does not move uniformly. Differences across periods, terminal operators and traffic types show that aggregate activity can conceal meaningful changes beneath the headline total.
Long-term container activity has expanded materially since 2019, establishing a larger measured scale for the system.
Growth has been uneven across terminal operators, indicating that aggregate expansion does not represent identical movement across the port's internal structure.
The slight decline in total container activity in 2025 concealed divergent movements among operators and traffic types.
The dominance of containerized cargo provides a clear structural characteristic of the measured non-petroleum cargo mix.
The Signal
Four Signals Beneath the Aggregate
The most relevant signals emerge when long-term growth, operator structure, recent movement and cargo composition are considered together.
82.0%
2025 share of SSA + Contecon
−8.9%
2025 transshipment change
74%
Non-petroleum cargo containerized
Trade Volume
Trade Structure
Aggregate Change Can Hide Internal Shifts
The 2025 decline of 0.8% in total container activity does not describe a uniform contraction. Import activity increased approximately 1.2%, exports remained broadly stable, and transshipment declined approximately 8.9%. At the terminal/operator level, Contecon increased activity while the other major operators declined.
Different Traffic Signals
Import and export activity remained comparatively stable in 2025, while transshipment recorded the sharper decline.
Different Operator Signals
Contecon increased approximately 6.3% in 2025 while SSA, TIMSA and OCUPA recorded declines.
The Aggregate Masks Variation
The port-wide change of −0.8% is therefore the result of different movements occurring simultaneously within the system.
Structure Over Headline
Reading the components separately provides a more informative view of recent change than relying on the aggregate total alone.
Cargo Distribution
Cargo Structure
Containerization Defines the Measured Cargo Mix
Containerized cargo represented approximately 74% of non-petroleum cargo movement in 2025. This establishes containerized movement as the dominant measured cargo category, while mineral bulk, agricultural bulk and general cargo form smaller components of the observed mix.
Containerized Dominance
Approximately three quarters of non-petroleum cargo movement was containerized in 2025.
Mineral Bulk
Mineral bulk represented approximately 14.8% of the measured non-petroleum cargo mix.
Smaller Cargo Categories
Agricultural bulk and general cargo each represented less than 6% of non-petroleum cargo movement.
A Structural Characteristic
The composition provides a clear snapshot of the cargo structure, although a single-year distribution cannot establish a long-term compositional trend.
Historical Trends
Historical Trends
Expansion Did Not Follow a Single Path
The 2019–2025 series shows a larger system emerging over time, but the path includes a 2020 decline, sustained growth through 2024 and a slight correction in 2025. The pattern suggests that aggregate expansion should be understood as a changing process rather than a uniform upward trajectory.
A Larger System
Container activity in 2025 was approximately 26.9% above the 2019 level.
Non-Linear Development
The series combines contraction, recovery, sustained expansion and a recent correction rather than following a continuous upward path.
A New Recent Baseline
Although 2025 was slightly below the 2024 peak, activity remained close to the highest level observed in the series.
Scale Alone Is Insufficient
The historical series establishes the scale of change, but understanding its structure requires examining operators and traffic types separately.
Conclusion
Key Insight
The Signal Is in the Structure
Manzanillo's trade data reveals a system that has expanded materially over time but does not move as a single unit. Aggregate activity can conceal different trajectories among terminal operators and traffic types, while the cargo mix shows a strong containerized orientation. The broader lesson is methodological as much as analytical: understanding Manzanillo requires looking beyond headline totals and examining how scale, composition and internal movement interact. The data does not provide every explanation, but it provides a measurable foundation for identifying where the system is changing.
MZO Intelligence
Sources
Sources
Primary sources and references supporting this report.
ASIPONA Manzanillo
Port Statistics — Historical Container Activity
2025
ASIPONA Manzanillo
Port Statistics — January–December 2025
2025
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