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

Tanker Vessel Contracting Hits Record High

Tanker Vessel Contracting Hits Record High

Concordia Damen to Build Two River Cruise Vessels for TUI River Cruise

Concordia Damen to Build Two River Cruise Vessels for TUI River Cruise

HDI Global US Restructures Underwriting Leadership

HDI Global US Restructures Underwriting Leadership

cruisePAL Restructures Senior Leadership Team

cruisePAL Restructures Senior Leadership Team

Subscribe for Maritime Logistics Professional E‑News

Oil tanker traffic in Hormuz is near a standstill due to attacks that strain Iran's truce
Source: Air India chairman to oversee firm with interim panels; CEO search continues
S&P 500 closes down after Trump declares Iran deal 'over