The Chancay Megaport

How China's COSCO built the Chancay port north of Lima, opened in November 2024, to cut shipping times to Asia, and the geopolitical debates it sparked.

Chancay is a new deep-water port north of Lima.

Opening

Opened in November 2024 by Chinese President Xi Jinping and Peru’s president.

Ownership

China’s COSCO Shipping owns a majority stake.

Aims

Cut shipping times to Asia.
Become a hub for South American trade, including Brazil.

Investment

Over $1 billion in the first phase.

Geopolitics

The US raised concerns about Chinese control of strategic infrastructure.

Local effects

Jobs and growth for Chancay, a small fishing town.

The direct route

A shipment of Peruvian copper sails directly from Chancay to Shanghai, saving days.

Thinking ports are purely commercial

They carry geopolitical weight.

Key takeaways

Chancay opened in November 2024.
COSCO owns a majority stake.
It cuts shipping times to Asia.
The US raised concerns.