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

Great Lakes Iron Ore Trade Down in November

Great Lakes Iron Ore Trade Down in November

Indiana Expands Barge Shipment Handling Capacity

Indiana Expands Barge Shipment Handling Capacity

Liebherr to Supply STS Cranes to Port Tampa Bay

Liebherr to Supply STS Cranes to Port Tampa Bay

StormGeo Strengthens Analytics, Appoints New Leader

StormGeo Strengthens Analytics, Appoints New Leader

Subscribe for Maritime Logistics Professional E‑News

Minister: Turkey warned Russia and Ukraine to avoid war over energy infrastructure
Minister: Turkey warned Russia and Ukraine to avoid war over energy infrastructure
EM stocks are on the rise as investors balance Fed hopes and Ukraine risks