Argentine authorities focused on a shipping company which has a strong presence in the region. It was striking that while the volume of mobilized containers remained at stable levels in the last three years, the amount of dollars transferred abroad grew significantly. The company is the second container operator in the port of Montevideo.
An official report prepared by the Argentine Customs, which analyzes the evolution of international freight prices, focuses on a very striking fact regarding Mediterranean Shipping Company (MSC)an Italian capital company headquartered in Geneva, Switzerland.
The document, which the control body officially sent to the Ministry of Economyto the Transport, to the General Administration of Ports (AGP) and to Central Bank (BCRA)shows that while the volume of containers operated by MSC remained homogeneous in the last three years, the amount of dollars transferred abroad as “Freight Services and Others” increased substantially, reaching US$ 684 million last year, an 87% increase in foreign currency issued compared to the previous year.
The US$ 684 million transferred abroad corresponded to 103,893 containers operated. In 2020, MSC operated 105,107 containers and transferred US$130 million and in 2021 it mobilized 103,466 containers and took US$366 million out of the country. In the comparison of the three years, it is observed that there was very little change in the number of containers, but there was in the number of dollars transferred abroad.
Ines Guimaraens
MSC Shipping
Mediterranean Shipping Company SA (MSC) is currently the world’s leading shipping company in terms of cargo capacity of container ships. The company operates 730 vessels, is headquartered in Geneva and works in most ports around the world.
The report hypothesizes that because MSC has fewer controls due to being privately owned and has little depth of listing, it may “harmfully” plan outbound remittances by taking advantage of the currency gap.
From the Ministry of Transportation they are evaluating requesting the company, on this hypothesis, intervention prior to the authorization of the release of funds for transfers abroad, including Freight Services within the Sirase (Service Import System of the Argentine Republic ), and evaluate the authorization of the MSC shipping line to operate in Argentine ports.
In Uruguay, MSC is one of the strongest operators in the port of Montevideo. Last year, it mobilized 119,076 TEUS (a measure equivalent to a 20-foot container), according to information accessed The Observer. That placed it as the second shipping company that moved the most containerized cargo. in the first place was Maersk with 195,336 TEUS (18%), MSC mobilized 11% and in third place was Hapag-Lloyd 7%. The remainder was divided among other shipping companies.
Worldwide, Maersk and MSC compete for first place in the ranking of shipping companies that transport the most containers.
With information from The Chronicler
