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

Northern Grain Belt Ports Initiative Established

Northern Grain Belt Ports Initiative Established

Container Imports Soar at Port of Los Angeles

Container Imports Soar at Port of Los Angeles

Compas Cartagena Terminal Employs LHM 600 Crane

Compas Cartagena Terminal Employs LHM 600 Crane

State Lawmakers Engage in Tours, Presentations During FreightWeekSTL

State Lawmakers Engage in Tours, Presentations During FreightWeekSTL

Subscribe for Maritime Logistics Professional E‑News

US natgas at Waha turns positive for the first time since February, as pipeline constraints ease
The US-Iran agreement promises an end to the war, but its implementation remains unclear
Tropical Cyclone One could form off the Texas coast and cause dangerous flash floods