Wallenius Wilhelmsen, the world’s largest car carrier operator, said its vessels make between 300 and 350 voyages a year to the US, potentially generating annual voyage fees of around $300 million.
The investment will increase the Port of Caucedo’s capacity by 24% while expanding an adjacent Free Trade Zone, the terminal operator said.
Much of the volume that has been locked up over the past month will come flooding back into the market after Washington and Beijing agreed to significantly slash their respective tariffs for 90 days.