Multicriteria Decision Model for Port Evaluation and Ranking: An Analysis of Container Terminals in Latin America and the Caribbean Using PCA-TOPSIS Methodologies

Abstract

In recent years, despite a decline in international trade and disruptions in the supply chain caused by COVID-19, the main container terminals in Latin America and the Caribbean (LAC) have increased their container volumes. This growth has necessitated significant adaptations by seaports and their authorities to meet new demands. Consequently, there has been a focused analysis on the performance, efficiency, and competitiveness, particularly their most relevant logistical aspects. In this paper, a multi-objective hybrid approach was employed. The Principal Component Analysis (PCA) technique was combined with the Technique for Order of Preference by Similarity to the Ideal Solution (TOPSIS) to rank LAC container terminals and identify operational criteria affecting efficiency. The analysis considered all input variables (berth/quay length, quay draught, yard area, number of quay cranes (portainer), number of yard cranes (trastainer), reachstacker, multicranes, daily montainer movement capacity, number of station reefer container type, number of terminals, and distance to the Panama Canal) and output variable (port performance expressed in TEUs from 2014 to 2023). The results revealed noteworthy findings for several terminals, particularly Colón, Santos, or Cartagena, which stands out as the main container port in LAC not only in annual TEUs throughput, but also in resource utilization.