Cosco Shipping Evaluating Impact of Peru's Lawsuit on Megaport Development

March 26, 2024

China's Cosco Shipping is evaluating the impact of a move by Peru's government to annual the exclusivity it holds over operations at the new Chancay megaport.

Peru awarded exclusivity to Cosco Shipping to operate the port in 2021, but last week said it was an "administrative error" and requested a judicial process to annul the decision. The Chinese company said in a statement late on Monday the push affects investment security in the Andean nation.


(Reuters - Reporting by Marco Aquino; Writing by Valentine Hilaire; Editing by Alexander Villegas)

Logistics News

European Wheat Prices Jump to 17-Month High Amidst Renewed Black Sea Tensions

European Wheat Prices Jump to 17-Month High Amidst Renewed Black Sea Tensions

Ukraine to Protect Ports, Exports After Recent Russian Attacks

Ukraine to Protect Ports, Exports After Recent Russian Attacks

Port of Aberdeen Welcomes Longest-Ever Vessel

Port of Aberdeen Welcomes Longest-Ever Vessel

Sogese H2 Market Update Foreshadows Geopolitical Impact on Global Shipping

Sogese H2 Market Update Foreshadows Geopolitical Impact on Global Shipping

Subscribe for Maritime Logistics Professional E‑News

Canadian wildfire smoke chokes Toronto and threatens US cities
OECD: Global minimum tax boosted revenues, not jobs
Maguire: Europe's next energy crisis is right in front of us.