Exhibit 12.1

Grupo TMM and Subsidiaries  COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES  (Amounts in thousands of dollars)

|                                   |                                                                                 | Year Ended December 31, |         
|---------------------------------- | ------------------------------------------------------------------------------- | ----------------------- | --------
|
|Historical ratio(U.S. GAAP):       |                                                                                 |                         |         
|Fixed charges:                     |                                                                                 |                         |         
|                                   | Interest costs and amortization on debt discount or premium in all indebtedness |                         | 173,904 
|                                   | Portion of rent expense representative of interest factor(A)                    |                         | 29,879  
|                                   |                                                                                 |                         |         
|                                   | Fixed charges                                                                   |                         | 203,783 
|                                   |                                                                                 |                         |         
|Earnings:                          |                                                                                 |                         |         
|                                   | Pretax income from continuing operations                                        |                         | (168,496
|                                   | Less:                                                                           |                         |         
|                                   | Minority interest                                                               |                         | 27,947  
|                                   | Equity investee income/loss                                                     |                         | 230     
|                                   | Fixed charges                                                                   |                         | 203,783 
|                                   | Amortization of capitalized interest                                            |                         | 345     
|                                   | Distributed income of equity investees                                          |                         |        
|                                   |                                                                                 |                         |         
|                                   |                                                                                 |                         | 63,809  
|                                   |                                                                                 |                         |         
|Ratio of earnings to fixed charges |                                                                                 | (N/A                    | )(B)    
|                                   |                                                                                 |                         |         

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Note:This information reflects discontinued Port and Terminals figures.

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Grupo TMM and Subsidiaries  COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES  (Amounts in thousands of dollars)

|                                   |                                                                                 | Year Ended December 31, |        
|---------------------------------- | ------------------------------------------------------------------------------- | ----------------------- | -------
|
|Historical ratio(IFRS GAAP):       |                                                                                 |                         |        
|Fixed charges:                     |                                                                                 |                         |        
|                                   | Interest costs and amortization on debt discount or premium in all indebtedness |                         | 173,860
|                                   | Portion of rent expense representative of interest factor(A)                    |                         | 31,777 
|                                   |                                                                                 |                         |        
|                                   | Fixed charges                                                                   |                         | 205,637
|                                   |                                                                                 |                         |        
|Earnings:                          |                                                                                 |                         |        
|                                   | Pretax income from continuing operations                                        |                         | (45,105
|                                   | Less:                                                                           |                         |        
|                                   | Minority interest                                                               |                         | (31,248
|                                   | Equity investees income/loss                                                    |                         | 230    
|                                   | Fixed charges                                                                   |                         | 205,637
|                                   | Amortization of capitalized interest                                            |                         | 345    
|                                   | Distributed income of equity investees                                          |                         |       
|                                   |                                                                                 |                         |        
|                                   |                                                                                 | 129,859                 |        
|                                   |                                                                                 |                         |        
|Ratio of earnings to fixed charges |                                                                                 | (N/A                    | )(B)   
|                                   |                                                                                 |                         |        

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Note:This information not reflects discontinued Port and Terminals figures

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