SSA Marine Invests MX$948 Million in Puerto Progreso

SSA Marine will invest MX$948 million to expand cruise infrastructure and navigation capacity at Puerto Progreso, supporting Yucatan’s broader port modernization strategy.

Mexico’s Port of Progreso is moving into a new stage of modernization as SSA Marine Mexico commits MX$948 million (US$49.1 million) to expand cruise-terminal infrastructure, deepen the navigation channel, and accommodate larger vessels.

The private investment marks the second phase of the port’s modernization program, following a MX$1.63 billion public investment by the Government of Yucatan in dredging and navigation-channel expansion works. The project is part of a broader MX$7.23 billion federal plan to expand and modernize Puerto Progreso, one of southeastern Mexico’s main maritime gateways.

According to the Government of Yucatan, SSA Marine’s investment will support improvements to the cruise terminal, additional dredging, and expanded capacity for larger cruise ships. The announcement was made on June 19 during an event marking the completion of the project’s first phase and the start of the second stage.

The first phase of the modernization program focused on dredging and widening the navigation channel. The Government of Yucatan invested MX$1.63 billion in the works, which included the removal of 1.412 million m3 of material and the expansion of the channel from 150m to 180m wide.

Authorities said the initial phase was completed within the planned timeline and technical parameters. The state government has positioned the project as part of its broader infrastructure strategy, alongside the Tren Maya freight network, energy projects, and industrial-development initiatives across the southeast.

Deeper Channel, Larger Cruise Vessels

The second phase includes dredging works designed to increase the depth of the navigation channel to 13.3m. The berth will also be extended from 332m to 450m, enabling Progreso to receive larger cruise vessels, including ships comparable in scale to Royal Caribbean’s Icon of the Seas.

SSA Marine Mexico expects the expansion to strengthen Progreso’s position in the cruise market. The port receives around 450,000 cruise passengers annually, but the company projects that figure could surpass 1 million visitors per year once the upgrades are completed. The operator has also reserved MX$285 million for improvements aimed at enhancing the terminal’s image and passenger experience. These upgrades are intended to improve the competitiveness of Progreso against other cruise destinations in the Caribbean and Gulf of Mexico.

The port expansion is also linked to a larger federal infrastructure project listed by Proyectos México, with estimated investment of MX$7.23 billion. The broader project includes the construction, modernization, and maintenance of port infrastructure intended to increase cargo, tourism, and logistics capacity.

A separate federal project involves the dredging and development of a 40ha northern platform at Puerto Progreso. The platform is part of the first stage of the port’s wider expansion and is listed as a greenfield investment project by Proyectos México.

A Longer-Term Container Terminal Plan

SSA Marine’s cruise-focused investment is separate from a longer-term modernization plan announced by APM Terminals Mexico in September 2025 for its container terminal in Progreso.

APM Terminals outlined staged investments of about MX$3 billion over 19 years, focused on infrastructure upgrades, equipment renewal, technology deployment, operational safety, and logistics visibility. The company said the program could generate an estimated 230 direct jobs and more than 1,100 indirect jobs, while incorporating renewable-energy use and decarbonization initiatives.

The plan was supported through a memorandum of understanding with the Government of Yucatan and is intended to strengthen Progreso’s role in containerized trade and regional supply chains. Unlike SSA Marine’s MX$948 million project, which centers on cruise infrastructure and vessel reception capacity, APM Terminals’ initiative targets the port’s container-terminal operations and long-term logistics performance.