Port of Chancay

Port of Chancay
Map
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Location
CountryPeru
LocationChancay, Peru
Coordinates11°35′35″S 77°16′37″W / 11.593°S 77.277°W / -11.593; -77.277
Details
Opened2024; 0 years ago (2024)
Operated byCosco Shipping Ports Chancay Perú S.A.[1]
Owned by
 China COSCO Shipping Ports
 Peru Volcan Mining Company
Statistics
Website
coscochancay.pe Edit this at Wikidata

The Port of Chancay is a shipping terminal located in Chancay, Peru. It was developed by Cosco Shipping Ports Chancay Perú S.A., a corporation made up by Chinese state-owned shipping and logistics company COSCO Shipping Ports in association with the Peruvian company Volcan. [2] The port is part of the Belt and Road Initiative; and according to Peruvian law, it is considered a private port for public use, granting the operator exclusivity to provide port services.[3]

The port is located approximately 60 kilometers north of Lima. A total of 3.5 billion US dollars (3.3 billion euros) will be invested in the construction of the port and its facility.[4] Concerns have been raised about the potential dual use of the port.[5][6][7]

History

In 2007, former Peruvian Navy Admiral Juan Ribaudo de la Torre conceived the construction of a substantial commercial port south of the historic Chancay Marina, leading to the establishment of the Chancay Harbor Company (CHP), which would supply the necessary land for the project.[8] In 2011, Ribaudo and his business, in collaboration with Volcano Mining Peru, established the company Chancay Port Terminals (TPCH) to advance the port project, encompassing a multipurpose port terminal and a logistics complex.[9][10]

In 2019, Volcano Mining and COSCO Shipping announced the execution of a commercial partnership agreement to advance the project. The involvement of the Chinese enterprise facilitated the reconstruction and expansion of the project, encompassing new design, engineering development, building, and operation of a substantial port complex, with a total expenditure anticipated to reach $3 billion.[11] Following COSCO Shipping Ports' capital infusion, the business acquired a 60% stake in the project, but Peru's Volcano Mining business's ownership diminished to 40%.[12] Also, the company was renamed from Chancay Port Terminals to Cosco Shipping Ports Chancay Perú S.A.[1]

China's Xi Jinping and Peru's Dina Boluarte jointly participated in the virtual inauguration of Chancay port on November 14, 2024

The first stage of the port was finished by the end of 2024.[13] The port was inaugurated on 14 November 2024 in a ceremony attended online by Chinese leader Xi Jinping and Peruvian president Dina Boluarte, subsequent to the issuance of the directive by the two chiefs of state to commence port operations.[14] Peruvian Foreign Minister Elmer Schialer [es] previously affirmed that the action was taken for "security reasons".[15][16] Following the directives from the two heads of state for the port's opening, the COSCO Peru vessel and the New Shanghai vessel commenced unloading operations.[17][better source needed]

Capacity

Port of Chancay in 2024

In the first expansion phase, around one million containers can be handled per year.[4]

The port of Chancay possesses significant advantages compared to other ports in the South Pacific: a natural draft of 17.8 meters (58.4 feet) and a strategic geographic position on Peru's central coast, in proximity to the port of Callao, Jorge Chávez International Airport, and the Initiative for the Integration of the Regional Infrastructure of South America, as well as the Central Amazonian Interoceanic Corridor, which is designed to accommodate vessels with capacities exceeding 18,000 TEUs. Similarly, the initial phase will comprise four jetties with a length of 400 meters.[18]

The port project comprises three elements: the port operations zone, designated for embarkation activities. The alternative is the entry complex, which will encompass the vehicle port, entry gate, customs inspection area, administrative offices, logistics and support services area, and the interconnecting tunnel with the Pan-American Highway. The primary operational objective for port construction is to facilitate the transportation of about 1 million TEUs and a total of 6 million cargo items annually.[19]

Business structure and context

China was building the harbour as a gate from South America to China due to it`s interest in this resource-rich neighbouring continent.[20] Peruvian mining company Volcan will own a 40% share of the company and COSCO Shipping will hold the remaining 60%.[13] The Peruvian Congress passed a law granting Cosco exclusive use of the port; that's why some people in Peru are controversial about the Chineses-influence.[4]

Xi Jinping has said the port is expected to generate $4.5 billion annually and create 8,000 jobs.[21] The Chancay Industrial Park and the multipurpose port are scheduled for concurrent construction. Both will establish ports and industrial hubs with integrated multi-functionality, encompassing logistics, industrial zones, service and technology complexes, and residential regions. Chancay Park will undergo development in four phases: the initial phase will concentrate on logistics and warehousing, whilst the subsequent phases will emphasize industrial development. The concluding step will entail real estate implementation.[22][23]

See also

References

  1. ^ a b Ojo Público, Redacción (2024-09-08). "Megapuerto de Chancay: la historia detrás de la expansión del hub comercial en Perú" (in Spanish). ojopublico.com. Retrieved 2024-11-27.
  2. ^ "Peru's 'transformational' Chancay Port opens for business". Global Construction Review. 2024-11-15. Archived from the original on 2024-11-16. Retrieved 2024-11-15.
  3. ^ "China's Cosco Shipping retains exclusivity over Peruvian megaport following law change". fundacionandresbello.org. 2024-04-18. Retrieved 2024-11-15.
  4. ^ a b c "Xi weiht chinesisch finanzierten Hafen in Peru ein". tagesschau.de (in German). Archived from the original on 2024-11-15. Retrieved 2024-11-15.
  5. ^ Tegel, Simeon (2024-09-24). "Inside the Chinese mega-port built in America's backyard". The Daily Telegraph. ISSN 0307-1235. Archived from the original on 2024-11-18. Retrieved 2024-11-18.
  6. ^ I-chia, Lee (2024-11-17). "Peru's China links put pressure on Taiwan". Taipei Times. Retrieved 2024-11-18.
  7. ^ Stott, Michael (2024-11-04). "Chinese warships could use Peru's big new port, US general warns". Financial Times. Retrieved 2024-11-19.
  8. ^ Llosa, Rafael Belaunde (2023-08-06). "El megapuerto de Chancay: sueño y realidad". Perú 21 (in Spanish). Archived from the original on 2024-05-22. Retrieved 2024-11-18.
  9. ^ Perú, El Comercio; Perú, Redacción El Comercio (2016-05-25). "Puerto Chancay: Inicia construcción del puerto y área logística". El Comercio (in Spanish). NOTICIAS EL COMERCIO PERÚ. Archived from the original on 2024-05-22. Retrieved 2024-11-18.
  10. ^ "Volcan adquiere empresa Terminales Portuarios Chancay y busca socio". Asociacion Peruana de Agentes Maritimos (in Spanish). 2016-04-18. Archived from the original on 2024-07-19. Retrieved 2024-11-18.
  11. ^ "Volcán Compañía Minera S.A.A. y Cosco Shipping Ports Limited suscriben acuerdos societarios para desarrollar el Puerto de Chancay". Plataforma del Estado Peruano (in Spanish). Archived from the original on 2024-05-22. Retrieved 2024-11-18.
  12. ^ Gestión, Redacción (2019-05-14). "Volcan y Cosco Shipping Ports firman acuerdo para construcción del puerto de Chancay" (in Spanish). NOTICIAS GESTIÓN. Retrieved 2024-11-18.
  13. ^ a b Briceño, Franklin (23 August 2023). "Chinese-backed port project in Peru to be the 'gateway from South America to Asia,' official says". AP News. Archived from the original on 16 May 2024. Retrieved 25 June 2024.
  14. ^ ISABEL DEBRE (2024-11-16). "Asia-Pacific summit closes in Peru with China's Xi front and center as Trump whiplash looms". ABC News. Associated Press. Archived from the original on 2024-11-17. Retrieved 2024-11-17.
  15. ^ Acosta, Sebastián (2024-11-01). "Presidente de China no viajará a Chancay para inaugurar megapuerto por "razones de seguridad", según canciller". RPP Noticias (in Spanish). Archived from the original on 2024-11-12. Retrieved 2024-11-18.
  16. ^ Vega, Renzo Gómez; Bailén, Inma Bonet (2024-11-15). "China consolida su presencia en Latinoamérica con la inauguración en Perú del megapuerto de Chancay". El País América (in Spanish). Archived from the original on 2024-11-16. Retrieved 2024-11-18.
  17. ^ "习近平同秘鲁总统博鲁阿尔特以视频方式共同出席钱凯港开港仪式_中华人民共和国外交部". 中华人民共和国外交部 (in Chinese). 2024-11-15. Retrieved 2024-11-17.
  18. ^ "Xi inaugurates South America's first Chinese-funded port in Peru". France 24. November 14, 2024.
  19. ^ "Puerto de Chancay recibirá a los buques más grandes del mundo". Diario Oficial El Peruano (in Spanish). 2022-03-11. Archived from the original on 2024-06-23. Retrieved 2024-11-18.
  20. ^ "China's president unveils a megaport in Peru, but locals say they're being left out". AP News. 2024-11-14. Archived from the original on 2024-11-15. Retrieved 2024-11-15.
  21. ^ Jarrett Renshaw; Lucinda Elliott; Eduardo Baptista; Trevor Hunnicutt (2024-11-15). "Starting Latin America trip, Xi Jinping opens huge port in Peru funded by China". Reuters. Retrieved 2024-11-18.
  22. ^ S.A.S., Editorial La República (2024-07-02). "Este mes definirán si venderán en su totalidad el proyecto de Chancay Park en Perú". Diario La República (in Spanish). Archived from the original on 2024-07-17. Retrieved 2024-11-18.
  23. ^ "Moderno parque industrial cerca del puerto de Chancay generará 20,000 empleos". Noticias (in Spanish). 2023-05-15. Archived from the original on 2023-11-02. Retrieved 2024-11-18.
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