Fracht AG establishes office in Mexico

The internationally active logistics company Fracht AG has opened its first office in Mexico, according to a statement on LinkedIn. Fracht AG, which is headquartered in Basel, operates in the Latin American country as Fracht Logistics México. The new office opened on 30 March.

After Brazil, Mexico is the second largest economy in Latin America and an important trading nation, writes Fracht in a statement. Its gross domestic product (GDP) amounts to 1.22 trillion US dollars, while the total value of exports and imports of goods and services is about 80 per cent of its GDP. As well as the USMCA agreement with the U.S. and Canada, the country has signed 13 other trade agreements, seven of which are in Latin America, according to Fracht.

Fracht’s Mexican office, Fracht Logistics México, will be managed by Karin Lerma, whose logistics company Valmik, which she founded in Mexico in 2020, has since been taken over by Fracht, along with all its employees. Lerma began her career in 1997 at Panalpina Monterrey before joining Kuehne+Nagel Mexico in 1998, according to the statement. There, she held various positions in operations and business development management over 19 years. From 2017 until early 2020, she was managing director and partner of C-Logistics Mexico.

In its latest Logistics Market Report, Fracht writes that capacity and spotrates in the ocean freight market between Latin America and North America declined at the beginning of the year, but are now stabilizing. In the Asia-Latin America ocean freight market, conversely, capacity and spotrates increased. This can partly be attributed to new services from the East and Gulf coasts to the West coast of South America, which increased capacity. Port congestion continues to arise in the main Latin American countries. gba