The Port of Buenos Aires () is the principal maritime port in Argentina. Operated by the Administración General de Puertos (General Ports Administration), a state enterprise, it is the leading transshipment point for the foreign trade of Argentina. The current port is located in the city's Retiro ward, and is colloquially known as Puerto Nuevo (New Port). The Port of Buenos Aires handles around 11 million metric tons of cargo annually; Dock Sud, which is owned by the Province of Buenos Aires, is south of the city proper, and handles another 17 million metric tons. Passenger traffic at the port peaked during the golden era of immigration in Argentina (until 1930), when the port was the site of the Hotel de Inmigrantes. In later decades, this was limited mainly to tourist visitors to Argentina, as well as Argentine visitors to Uruguay. A fast ferry service operated by Buquebus and Ferrylíneas operates short routes to and from the Uruguayan cities of Colonia del Sacramento and Montevideo; Sturla transports tourists to and from Tigre, a popular weekend destination. The Benito Quinquela Martín Terminal, inaugurated in 2000, served 120 cruise ship arrivals with a total of 100,000 visitors in 2010. History Early development Buenos Aires itself was founded as a port by Captain Juan de Garay in 1580 for the Spanish Empire. It was stymied early on, however, by merchants from the Viceroyalty of Perú, who had the port closed in 1595. The difficulty of transporting European goods from Lima fostered an active smuggling trade in Buenos Aires, and locals' reliance on contraband did not subside until after the 1776 establishment of the Viceroyalty of Río de la Plata. Following this concession, exports (mainly salted meat and cowhides) flourished, and customs duties became the paramount source of public revenue. Until the latter part of the nineteenth century, however, the natural harbor of Balizas Interiores (Interior Beacons) served as the main port. Before the current infrastructure was built, Buenos Aires had only a mooring or pier of shallow and low, swampy terrain. It was, moreover, of difficult access, as the city it served was located atop an incline, and heavy silt deposits on the Río de la Plata estuary limited seaborne access, as well. Merchant ships anchored several miles offshore, where passengers and cargo transshipped to shallow-draft vessels that approach the shore. Silt and other alluvial material from the Matanza River (south of Buenos