Could you discuss the history and recent growth of Euromex Logística?

Euromex Logística was founded in 2000 as a logistics business specifically serving the tequila industry, and we have since expanded into other areas. We offer flexitank and isotank transport. Over 20 years later, the tequila business remains strong. There has been a real boom in tequila, particularly after the pandemic, during which the consumption of alcohol increased worldwide by double digits. Accordingly, Euromex Logistica has experienced incredible growth over the last two years. From 2020 to 2022, our tequila operations grew by 200%. In the area of flexitanks, we have also experienced significant growth. The pandemic led to an increase in home cooking and, therefore, an increase in the consumption of vegetable oils transported by flexitanks. Tequila and flexitanks are the two areas with the most remarkable growth. We also have an isotanks business segment for transporting dangerous chemicals. Now that China has reopened for business, there is significant demand for chemicals from Asia. Due to this, our isotanks business grew by 50%. We are one of the a few companies in Mexico to offer both flexitanks and isotanks for bulk liquid transportation by ocean.

How does Euromex Logística serve the chemical industry?

Euromex Logística uses isotanks to export and import a wide variety of products for the chemical industry. We receive the product in Mexico, deliver to the factories and return the empty tanks, to continue the cycle. On the other hand, we have worked with a petrochemical client exporting plasticizers for over 15 years. We also export resins for the paint industry with our flexitanks. In addition, we can transport a wide variety of specialized products, working with companies such as Grupo Delta to transport specialized chemicals from Asia.

What has caused the significant growth in the flexitanks industry?

Flexitank usage is growing faster than isotank usage because flexitanks are used to transport non-dangerous liquids. A flexitank is the cheapest option for transporting a bulk liquid. For example, it costs US$6,000 to bring a liquid from Mexico to Europe in an isotank, but only US$2,400 to bring the same liquid in a flexitank. It's an unbelievable price difference, and more businesses are shifting to flexitanks every day. We expect this growth to continue. We are positioned exceptionally well in the Mexican market and are very content with the quality of our service. In 2023, we will open an office in Guatemala for flexitanks and isotanks in addition to our pre-existing operations in Brazil and Argentina.

What is the greatest challenge facing the Mexican logistics industry?

A serious issue for the industry is the capacity of the Port of Manzanillo. Manzanillo is the largest port in Mexico in terms of the number of shipping containers processed, but it is the smallest port in terms of physical size. The quantity of cargo being handled significantly outstrips the capacity of the port. Due to the location's geographic limitations, increasing the port's capacity will be challenging.

Can you describe your focus for the next year?

We are in an excellent position right now, experiencing significant growth. Our primary objective is to stabilize and organize ourselves to continue meeting the current workload and then to continue growing our market in Latin and Central America bit by bit. We have plenty of business right now, so we are focused on ensuring that our foundation remains strong and, from that position of strength, continuing to expand.

Our growth strategy mirrors the growth of our clients, and we expand to new areas based on the needs of our clients. For example, we have increased our business partners in Spain, because we have clients who need services between Mexico and Spain. We expect to continue prioritizing our clients' needs in our expansion strategy and our everyday operations.