Juan Carlos López Mena is a businessman born on December 7, 1941, in La Pampa, Argentina. He is 81 years old and currently serves as the CEO of Buquebus, a transportation company that connects Uruguay and Argentina via land and sea.
Buquebus has opened the door to a wide range of business ventures for López Mena. He was the first to build a company offering passenger services across the Río de la Plata. Over time, the company expanded into Europe, and since his youth, he has carried the brand forward. He is the father of ten children, though only some are involved in his business endeavors.
The creation of Buquebus and entry into the ferry market
López Mena spent much of his youth in the textile industry, specifically working as a shirtmaker. That was his trade, but from a young age, he showed a strong interest in business—something that would later flourish, eventually positioning him as a dominant force in river transportation.
Without any formal university studies in business administration or related fields, López Mena purchased an old, run-down boat—a moment that could be considered the start of an era that continues to this day.
In the 1960s and 1970s, with little to no ferry activity connecting the Uruguayan and Argentine coasts, López Mena and his family founded a company called Ríos Argentinos, which is now known as Buquebus.
He launched the company after securing permits to operate on both sides of the river and to sell a full travel package. Later, he became a naturalized Uruguayan citizen and rebranded the company, purchasing new vessels.
The ferry market boom came in the 1990s. With an expanding fleet, his company began absorbing smaller competitors in the Río de la Plata region.
He then modernized all of his vessels, sending a strong signal to potential competitors. Ferry Líneas was, for a time, a strong rival, but López Mena responded quickly by upgrading his ships.
By the mid-1990s, the now-Uruguayan entrepreneur introduced retail stores on board his ferries to enhance the passenger experience. He also invested in faster vessels to shorten travel times. These improvements significantly boosted the company’s reputation.
Today, Buquebus operates more than 15 ferries and generates millions of dollars in annual revenue. López Mena began with a heavily damaged boat, and after more than 40 years in the shipping business, he now dominates the Río de la Plata transportation corridor between Uruguay and Argentina.
López Mena’s deep ties to Uruguay and Argentina—and the failed U.S. expansion
As we’ve seen, López Mena’s extensive ferry fleet has enjoyed immense success in South America. However, his attempt to replicate this business model in the United States was unsuccessful; he was denied entry into the American market.
That said, his ties to both Argentina and Uruguay remain strong. Argentine by birth and naturalized Uruguayan, now residing in Uruguay, he currently leads the Chamber of Commerce for both countries, aiming to foster trade and bilateral cooperation.
López Mena also once served as president of the same chamber, but this time in the United States, representing Argentina. Although his ferry business didn’t make it to American shores, he has been involved with the country in other capacities.
Beyond the river: BQB and new venture
López Mena has not limited himself to water transport. Several years ago, he launched an airline called BQB, offering domestic flights and a few routes to Chile. The airline operated under the Buquebus brand. Later, López Mena and one of his sons—who served as the airline’s director—sold the company.
After spending more than half his life in the maritime industry, López Mena announced in early 2023 that Buquebus would launch a new electric ferry—one of the largest in the world.
The vessel is expected to be operational within two years. Among its standout features are its speed and size, with the ability to carry more than 2,000 passengers.
Current status
Now nearing 82 years of age, Juan Carlos López Mena remains at the helm of the company he founded decades ago. He owns one of the largest sailing yachts in Uruguay and enjoys time with his children, several of whom continue to support him in the family business.