Currency Exchange LossesExchange rate volatility between the Mexican peso and the US dollar has produced larger translation losses, creating a headwind to reported results.
Shipping Operating Cost PressureRising operating costs in the shipping fleet, including higher maintenance and operational expenses, can compress shipping margins and drag on consolidated earnings.
Shipping UtilizationNormalization of shipping volumes and lower loading factors are expected to reduce the shipping division's contribution to results, weighing on near-term profitability.