by Manal Barakat, SeaNewsEditor
The new Port of Chancay in Peru, which is 80% complete, is poised to become a significant hub for South America-Asia trade.
According to a Reuters report, the port, which COSCO Shipping will operate, will begin shipping two container vessels per week starting in late November.
Initially, these vessels will travel directly to Shanghai, potentially expanding to other Asian markets.
Carlos Tejada, general manager of COSCO Shipping Chancay Peru, announced, "At the end of November, we will begin the stage known as 'test conditioning,' which we expect to run until May. However, during this soft launch phase, we can already handle actual cargo, with two direct vessels per week."
The report adds that the port will handle ships carrying up to 14,000 TEU during this period. This will later be increased to vessels with a capacity of 24,000 TEU.
Additionally, smaller ships from Colombia, Ecuador, and Chile will use Chancay as a transhipment point for cargo destined for Asia.
One of the key advantages the port will bring is that Ultra Large Container Vessels (ULCVs) with a capacity of 18,000 TEU will be able to dock for the first time on the Peruvian Pacific Coast.
It is also expected to reduce the transfer time of containers between Peru and China from 35 to 23 days. This efficiency will benefit Peru and other South American countries such as Brazil, Uruguay, Paraguay, and Bolivia.
The Lima Chamber of Commerce projects that the Port of Chancay will handle 30% to 40% of Peru's national cargo destined for China and Southeast Asia in its first phase, reports The Maritime Executive.
Furthermore, the Peruvian Ministry of Economy and Finance is developing a Special Economic Zone (SEZ) to attract large manufacturers. Goods from this zone will be distributed throughout Latin America via Chancay.
Experts believe the port's capacity will give Peru an edge over other regional ports.
Chancay Port, which has so far been allocated USD 3.5 billion, will be located 70 km north of Lima, the country's capital.
The Chancay Park and Ancon Industrial Park projects, which span about 1,500 hectares, are less than 30 minutes from the port. During the construction period, an estimated 7,500 jobs were created.
