by Lloyd's List

APM Terminals has extended its concession at the Mexican port of Yucatán for an additional 19 years and said it will pour more than $150m into the terminal.

The terminal at Puerto Progreso is APMT’s second site in Mexico. Its other, Lázaro Cárdenas, registered throughput growth of more than 25% and featured in the Lloyd’s List Top 100 this year.

But Yucatán itself has seen throughput grow 10% so far in 2025 compared to 2024, as it too rides the nearshoring wave that has seen volumes across Mexican ports surge, thanks in no small part to policies from Washington DC.

Alongside the agreement to extend the concession, APMT announced a 19-year investment plan that will see it invest about $160m into the terminal.

The plan will focus on upgrading infrastructure, renewing equipment and updating technology to improve efficiency and reliability.

APMT Mexico managing director Beatriz Yera said her company wanted “to be an active part of Yucatán’s promising future and the progress of its people”.

“We are going to invest not only to contribute to Yucatán’s economic and commercial development, but also to share our expertise and create synergies with authorities, local businesses and port service providers to make Puerto Progreso a benchmark for port innovation and technology — a more efficient and sustainable port for the benefit of Mexico and its people.”