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

Maersk Chooses Charlotte for its North American Headquarters

Maersk Chooses Charlotte for its North American Headquarters

Ruling Allows South African Welfare Group to Inspect Vessels

Ruling Allows South African Welfare Group to Inspect Vessels

APM Terminals Invests $550m in Callao Port

APM Terminals Invests $550m in Callao Port

Liebherr BOS Cranes Celebrates 50 Years

Liebherr BOS Cranes Celebrates 50 Years

Subscribe for Maritime Logistics Professional E‑News

Rescue operation underway for stranded South Korean ferry carrying 267 passengers
APM Terminals invests $550 million in Peru's Callao Port
Cameroon purchases power utility Eneo in $139mn deal from Actis