Property, vessels and equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, vessels and equipment [Abstract]

Summary of Property, Vessels and Equipment

Property, vessels and equipment as of December 31, 2021 and 2020 are summarized as follows:

	2021
	Net balances at beginning of year		Additions			Disposals				Transfers and others				Depreciation / loss from revaluation		Net balances at year end		Estimated useful lives(years)
Vessels	$	182,055	$	-		$	119,832		(a)	$	(51,591	)	(b)	$	10,632	$	-		25
Maritime equipment		-		33,836			-				37,002				-		70,838		3
Shipyard		190		-			-				-				41		149		40
Major vessel maintenance		6,858		-			5,486				2,376				1,803		1,945		2.5
Buildings and facilities		286,232		-			48,869		(c)		(108,094	)	(b)		12,555		116,714		20 & 25
Warehousing equipment		450		-			-				-				63		387		10
Computer equipment		397		100			-				-				220		277		3 & 4
Terminal equipment		24,309		1,381			-				-				2,353		23,337		10
Ground transportation equipment		3,730		54			-				-				1,220		2,564		4.5 & 10
Other equipment		9,500		89			-				23				1,178		8,434
		513,721		35,460			174,187				(120,284	)			30,065		224,645
Lands		1,934,345		-			158,287	(c)			(576,508	)	(b)		-		1,199,550
Constructions in progress		83,930		40,008	(d)		-				(7,195	)			-		116,743
	$	2,531,996	$	75,468		$	332,474			$	(703,987	)		$	30,065	$	1,540,938

	2020
	Net balances at beginning of year		Additions		Disposals			Transfers and others				Depreciation / loss from revaluation		Net balances at year end		Estimated useful lives(years)
Vessels	$	214,938	$	-	$	-		$	(16,241	)	(e)	$	16,642	$	182,055		25
Shipyard		232		-		-			-				42		190		40
Major vessel maintenance		15,180		-		-			5,871				14,193		6,858		2.5
Buildings and facilities		299,660		3,432		-			-				16,860		286,232		20 & 25
Warehousing equipment		205		616		-			-				371		450		10
Computer equipment		456		214		-			-				273		397		3 & 4
Terminal equipment		26,035		999		281			-				2,444		24,309		10
Ground transportation equipment		5,027		79		-			28				1,404		3,730		4.5 & 10
Other equipment		10,892		166		180			1				1,379		9,500
		572,625		5,506		461			(10,341	)			53,608		513,721
Lands		1,597,923		-		-			336,422		(e)		-		1,934,345
Constructions in progress		114,872		22,869		31,804	(f)		(22,007	)			-		83,930
	$	2,285,420	$	28,375	$	32,265		$	304,074			$	53,608	$	2,531,996

All the amounts for depreciation and for loss from revaluation are included as part of the depreciation, amortization, and loss from revaluation on the consolidated statements of profit or loss.

The accumulated depreciation on property, vessels and equipment at December 31, 2021 and 2020 is $197,950 and $290,056, respectively.

(a) On January 8, 2021, the ship 2Olmeca” was sold to company Athene Shipping Limited, which was delivered in Singapore. The cash received was used to prepay the line of credit with Act Maritime LLC for $3.5 million dollars in December 2020.

(b) It is mainly made up of the transfer to the assets classified as held for sale for $446,951 and the cancellation of the revaluation surplus for $284,584.

(c) It is mainly made up of the write-offs of 3 properties for $191,000, registering a loss of $130,000, recorded under other expenses (see Note 19).

(d) Corresponds mainly to investments in Inmobiliaria Dos Naciones, S. de R.L. of C.V. for the Dam project.

(e) It is mainly comprised of the surplus for revaluation of land for $330,571 and a deficit for revaluation of vessels for $16,135.

(f) Corresponds mainly to the cancellation of the project called “Terminal Quintana Roo”, derived from changes in the conditions of the project previously considered by Management.

Cost Model Revalued Carrying Amounts

If the cost model had been used, the revalued carrying amounts for vessels, land and properties as of December 31, 2021 and 2020, would be as follows:

	2021		2020
Vessels	$	8,206	$	102,993
Lands		715,613		715,616
Properties		133,342		140,360
	$	857,161	$	958,969