Puerto Cabello, Venezuela's busiest port, is in disrepair as a consortium seeks to reclaim its concession amid ongoing operational challenges.
Container facilities at Puerto Cabello, Venezuela's busiest port, have fallen into serious disrepair under the Maduro regime, according to a US maritime executive. A consortium is now seeking to reclaim its concession, as reported by American Shipper.
Louis Sola, former chairman of the Federal Maritime Commission, stated that cargo operations that should take four to five hours now take four to five days. He noted that Maersk continues to call at the port using equipment from the previous administration, while other facilities remain in disarray.
In a significant political development, US forces extracted Venezuelan President Nicolas Maduro on Saturday and transported him to New York to face federal charges. Vice President Delcy Rodriguez is currently leading the interim government.
Venezuela has 25 ports, but only six support meaningful container operations. Puerto Cabello, the busiest gateway, has 10 terminals and an annual capacity of approximately 810,000 TEU. Despite ongoing sanctions, it handled more than 272,000 TEU in 2023.
Major shipping lines such as Maersk, CMA CGM, MSC, and Seaboard Marine operate services to Puerto Cabello. Maersk has confirmed that its 17 staff members in Venezuela are safe and working remotely, with only minor delays to services.
Puerto Cabello is managed by the state-owned Bolipuertos. The concession was previously held by Pan American Port Operator LTD Corp SA until it was seized in May. Mr. Sola mentioned that Pan American had been paying US$100 million annually and is now exploring options to return.
Reports indicate that the US plans to lead a delegation of infrastructure companies to Venezuela in March to assess the port's conditions.
