1. Latin America-Caribbean Shipping Struggles Amid Geopolitical and Climate Crises
   • The maritime sector in Latin America and the Caribbean is grappling with severe challenges, including climate disruptions, geopolitical crises, and trade imbalances. The severe drought in 2023 and early 2024 significantly reduced water levels in the Panama Canal, forcing ships to take longer and more expensive routes, impacting trade from the Americas to Asia.
2. Latin America’s Shipping Trade: Key Leaders and Emerging Followers
   • Latin America is experiencing a significant transformation in the maritime shipping industry, with countries competing to become leading port hubs. Panama leads in shipping connectivity due to its strategic position and the Panama Canal, while Brazil and Chile are emerging as proactive players, showing clear signs of striving to improve their shipping connectivity.
3. Review of Maritime Transport 2023: Facts and Figures on Latin America and the Caribbean
   • Latin America saw a reduction of almost 6 percentage points in container volumes in 2020 compared with 2019. South-South trade, such as from Africa to Latin America and the Caribbean, contributed 12.5% to global containerized trade in 2022. Wheat shipments from Argentina have been directed to Ethiopia, replacing the loss of wheat supply from the Russian Federation and Ukraine.
4. Latin America Needs USD 55 Billion by 2040 to Boost Maritime and Port Industry
   • Latin America requires public and private investments of about USD 55 billion over the next two decades to significantly advance competitiveness in the maritime and port sector. Half of the investments required in the medium term, which total USD 15 billion, is to be made in ports of Mexico, Brazil, and Panama.
5. China Expands Maritime Influence Across Latin America
   • China is increasing its dominance in Latin America’s maritime sector, with a surge in crane exports and heavy investments in port infrastructure. China’s exports of cranes to Latin America increased by 47% year-on-year in the first 10 months of 2024, with Peru and Mexico being the biggest recipients.
6. UNCTAD: Climate and Trade Shifts Threaten Maritime Stability in Latin America and the Caribbean
   • Climate disruptions, freight rate volatility, and connectivity issues are deepening trade inequalities in Latin America and the Caribbean, especially for small island developing states. The Panama Canal serves as a stark example of the wider issues facing the region, particularly in the context of climate change.

These news items highlight the significant developments and challenges in the maritime sector of Latin American countries, including the impact of climate change, geopolitical shifts, and the growing influence of China in the region’s maritime industry.