Chancay Port: Transforming Trade Between Asia and Latin America

In November 2024, the Chancay Port in Peru held its inauguration ceremony and began trial operations.

Previously, most goods transported between Peru and Asia or Oceania passed through Central and North America. With the opening of Chancay Port, shipping time for goods from South America to Asian markets will drop from 33 days to 23 days. This will significantly reduce shipping time and lower logistics costs. The port is also expected to create over 8000 jobs annually in Peru.

How was such an important port built?

Background on the Chancay Port Project

Chancay is a small city. In the past, its economy relied mainly on fishing. Despite its size, Chancay has a unique location. It lies about 80 kilometers north of Peru’s capital, Lima, facing the Pacific Ocean, with a natural deep-water harbor.

In 2019, COSCO Shipping agreed to build the new Chancay Mega-port as part of China’s Belt and Road Initiative. The goal was to “promote Chancay as a first-class commercial center,” ensuring high standards of efficiency and safety while maximizing value for shareholders.

The first phase of construction began in 2021. It includes four berths. The $1.3 billion port has a maximum water depth of 17.8 meters, allowing it to handle ultra-large container ships with a capacity of 18000 TEUs.

The Chancay Port officially began operations in November 2024.

Get to Know about Chancay Port in One Picture

Conclusion

There is no doubt that Chancay Port will strengthen trade between Latin America and Asia, especially with China, in the long term.

Miguel Cabello, Trade and Tourism Counsellor at the Peruvian Embassy in Beijing, emphasized that Peru is becoming a logistics hub. Its strategic location creates new opportunities for trade and cooperation. He noted, “The opening of Chancay Port is just the beginning. Additional shipping and supporting facilities will be added in the future.”

As the port expands, it is expected to play a key role in global trade, connecting markets and driving economic growth for Peru and the region.

COSCO Shipping, Chancay Port’s exclusive operator, is one of YQN’s partnered carriers. If you need more information, please contact us at info@yqn.com.