Mexico’s role in the global fuels market is undergoing a significant shift as state‑owned Pemex increases domestic refining capacity. This expansion is already reshaping vessel traffic patterns across both the Gulf and Pacific coasts. Wood Mackenzie’s Maritime Team continues to closely monitor waterborne activity in the region.
Regular market behavior remains anchored by steady Mexican imports from the U.S. Gulf Coast into key ports such as Tampico, Veracruz, and Coatzacoalcos. Additional shipments are routed through the Panama Canal to Pacific destinations including Salina Cruz and Manzanillo.
Fuel flows continue to be dominated by UMS (gasoline) imports into Mexico and FO (fuel oil) exports to the United States, as indicated by Wood Mackenzie’s European Waterborne Products Report (EWP). Sporadic ULSD (diesel) movements are also observed heading toward the Pacific region.
Although importing fuels from the U.S. West Coast to Mexico’s Pacific ports is logistically viable avoiding the Panama Canal, vessels often continue using it due to high import volumes that make the longer route economically attractive for charterers.
According to official sources such as the U.S. EIA, Mexico sporadically exports Distillate Fuel Oil to PADDs 1 and 3. Recent observations show three deliveries this year from Dos Bocas to Yabucoa (Puerto Rico) and Port Canaveral (United States). While this reflects spot market balancing rather than a structural trend, tendencies indicate increased Mexican fuel output since 2018.
The Olmeca Refinery is the newest exporting point. With full capacity and proper management, it could eventually enable gasoline exports.
Key Ports to Monitor
- Tuxpan (Gulf) – Mexico’s key import hub
- Coatzacoalcos (Gulf) – Central to the Interoceanic Corridor development
- Dos Bocas (Gulf) – Home of the Olmeca Refinery
- Yabucoa (Puerto Rico) – Key receiving port for clean products
- Port Canaveral (U.S.) – Increasingly involved in clean products handling
For metrics and routes, reach out for a trial on VesselTracker and EWP services
