1. Introduction
- Context: Global trade dynamics are evolving. China is actively strengthening its presence in Latin America, seeking strategic points to optimize its trade routes toward North and South America.
- Project Overview: China, through a consortium of state-owned and private firms, is investing in the construction of a major logistics hub in Peru. The centerpiece is the development of the Chancay Port, located north of Lima, designed to become a new gateway for trans-Pacific trade.
2. Project Details
- Name: Chancay Megaport Project
- Location: Chancay, Peru (approx. 80 km from Lima)
- Main Stakeholders:
- Investment: Estimated at over $3 billion USD for Phase 1
3. Objectives
- Strategic Goal:
- Economic Goals:
4. Key Features of the Hub
- Infrastructure:
- Technology:
5. Strategic Importance
- For China:
- For Peru:
- For the Americas:
6. Challenges and Considerations
- Geopolitical Sensitivities:
- Environmental and Social Impact:
- Execution Risks:
7. Timeline
- Start of Construction: 2019
- First Phase Completion Expected: Late 2024 to early 2025
- Full Operational Capacity: Gradual ramp-up by 2030
8. Current Situation
As of April 2025, the primary shipping company operating at Peru's Chancay Port is COSCO Shipping, which also serves as the port's majority owner and operator through its subsidiary, COSCO Shipping Ports Chancay Perú S.A. COSCO Shipping's Operations at Chancay Port
- Direct Shipping Routes: COSCO has established direct shipping routes between China's Guangzhou Port and Chancay Port, significantly reducing transportation time to about 30 days and lowering logistics costs by approximately 20%.
- Automobile Carrier Service: In November 2024, COSCO launched a new automobile carrier service connecting the Far East to the South American West Coast, with Chancay Port as a key node. This service enhances the transportation efficiency for commercial vehicles and major equipment between China and Peru.
- First Voyage to Shanghai: The vessel "Xin Shanghai," operated by COSCO, completed a 23-day journey from Chancay Port to Shanghai's Yangshan Port in December 2024, marking the first official voyage between the two ports and establishing a two-way operational
9. Conclusion
The Chancay Port in Peru officially commenced operations on November 14, 2024, following its inauguration by Chinese President Xi Jinping and Peruvian President Dina Boluarte via video link.
In the first three months of operation, Chancay Port processed goods worth over $290 million, including exports such as blueberries, avocados, palm oil, and grapes, and imports like engineering machinery, corn, solar panels, and automobiles.
As of April 29, 2025, a direct shipping route between China's Guangzhou Port and Chancay Port has been established, serviced by the 300-meter COSCO Volga vessel. This route reduces transportation time to about 30 days and lowers logistics costs by approximately 20%. In its first three months of operation. The port is expected to significantly reduce shipping times between Peru and China to approximately 23 days, enhancing trade efficiency in the region
Chancay Port is designed to accommodate the world's largest container ships, with a throughput capacity of 1 million TEUs, 6 million tons of bulk cargo, and 160,000 vehicles annually. The port features storage yards, warehouses, and multi-purpose logistics areas, and is connected to the Pan-American Highway via a 1.8-kilometer tunnel, facilitating land transportation to the economic hinterland.
This development positions Chancay as a strategic logistics hub, enhancing trade connectivity between Asia and South America.
The Chancay Megaport project represents a transformative moment not only for Peru but for trade across the Americas. By creating a new Pacific logistics hub, it reshapes supply chains, offers new opportunities for economic growth, and redefines the geopolitical landscape of the region.
