This paper examines the determinants of waterborne transport costs, with particular emphasis on the efficiency at port level. Its main contribution is (1) to generate statistically quantifiable measures of port efficiency from a survey of Latin American common user ports, and (2) to estimate a model of waterborne transport costs, including the previously generated port efficiency measures as explanatory variables. In order to incorporate different port efficiency measures from the survey, we use principal component analysis (PCA). Our estimations show that the specified variables in the model explain a great proportion of the change in waterborne transport costs. With regard to port efficiency, the result is especially important for one of the port efficiency measures obtained through PCA with an estimated elasticity equivalent to that of distance. Other explanatory variables which show to be statistically significant are the monthly liner service availability, distance, and the goods' value per ton. The conclusions are relevant for policy makers as they show and quantify that port efficiency is a relevant determinant of a country's competitiveness – and in this respect, there still exist big differences among Latin American countries. Unlike most other relevant variables, port efficiency can be influenced by public policies. Maritime Economics & Logistics (2003) 5, 199–218. doi:10.1057/palgrave.mel.9100073

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The Caribbean basin lies at the cross roads of major east-west and north-south liner shipping routes. A number of regional ports have been able to take advantage of their geographical position. In other ports, however, the limited scale of hinterlands and the de facto monopolistic situation of ports in Small Island States have had a detrimental effect on port development. Port infrastructure endowment varies between highly equipped global transhipment hubs and rudimentary ports with wooden quays. By the same token, the supply of regular shipping services ranges between highly interconnected routes on the one side, and Small Island States that are heavily dependent on a few limited feeder services on the other. At the same time, freight rates in the region dispose of a high variability. The paper analyses the impacts of port infrastructure and liner shipping connectivity on intra-Caribbean freight rates. The structure of liner shipping services, port infrastructure endowment and liner shipping freight rates are closely related to each other. The paper will analyse these relationships. The empirical methodology includes principal component analysis and ordinary least-squares regressions. Maritime Economics & Logistics (2008) 10, 130–151. doi:10.1057/palgrave.mel.9100195

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