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

Turkey Tenders to Import 255,000 Metric Tons of Feed Barley

Turkey Tenders to Import 255,000 Metric Tons of Feed Barley

CK Hutchison Launches Arbitration over Panama Canal Ports Contract Ruling

CK Hutchison Launches Arbitration over Panama Canal Ports Contract Ruling

U.S.-Flag Shipping on the Great Lakes Down in 2025

U.S.-Flag Shipping on the Great Lakes Down in 2025

Port of Virginia Advances Capacity with Addition of ULCV Berth

Port of Virginia Advances Capacity with Addition of ULCV Berth

Subscribe for Maritime Logistics Professional E‑News

Maguire: Indonesia's coal-export ban will shake up Asia's energy mix.
IndiGo is under investigation by India's Competition regulator after a mass cancellation of flights
ZTO Express to issue convertible bonds worth $1.5 billion, according to a term sheet