The Port of Montevideo (Port Code:UYMVD), in the northern part of the Old City of Montevideo, Uruguay, is one of the major ports of South America and plays a very important role in the economy of Uruguay. The port's proximity has contributed to the installation of various industries in the area surrounding the bay, particularly import/export businesses, and business related to port activity and naval activity. Montevideo handles most types of cargo including containers, passengers, Ro-Ro, breakbulk, dry and liquid bulk, reefer, fish and LPG.
Montevideo is a free port and the main import and export hub for Uruguay. The port also acts as a major transshipment port for countries in the region. Port development is focused on the implementation of strategies and the improvement of hinterland infrastructure with the aim of becoming the primary logistics hub for the region.
The port has been growing rapidly and consistently at an average annual rate of 14 percent due to an increase in foreign trade. The city has received a $20 million loan from the Inter-American Development Bank to modernize the port, increase its size and efficiency, and lower maritime and river transportation costs. Katoen Natie owns an important container handling facility at this Port.