Ecuador's sea shipping industry suffering from downturn

While Ecuador has invested in coastal cities such as Posorja, Bolivar, and Manta, the shipping by sea industry has taken a downturn. An excess of transportation space, lack of products, and a reduction in shipments has affected operation costs in the sea shipping industry (El Comercio, 4 November 2016). Ecuadoran Sea Transportation Chamber President Juan Jurado explained the acquisition of freight ships a few years ago has not been justified, because the market has not grown accordingly. Jurado estimates that for October 2016, there is a 35 percent decrease in shipments in comparison to the same period in 2015. According to the Costal Cities Secretary, the number of ships arriving in Ecuadoran costal cities fell by 113 ships compared to 2014.