The Chancay Megaport is a deep-water multipurpose port terminal in Chancay, Peru, officially opened on November 14, 2024 during the APEC Forum, with Chinese president Xi Jinping attending. It is operated by COSCO Shipping Ports (60% stake) alongside Peruvian mining company Volcan (40%), with total planned investment of US$3.5 billion. Its draft of over 17 meters allows it to receive ships of up to 24,000 TEU — something no other Peruvian port can currently do.
It matters because it connects Peru directly to Asia without intermediate stops, cutting transit time to Shanghai from 35 to 25 days, and positions Peru's central coast as a new regional logistics hub.
Key facts
| Fact | Detail |
|---|---|
| Opened | November 14, 2024 |
| Main operator | COSCO Shipping Ports (60%) |
| Peruvian partner | Volcan Compañía Minera (40%) |
| Total planned investment | US$3.5 billion |
| Site area | ~142 hectares |
| Draft | Over 17 meters |
| Ship capacity | Up to 24,000 TEU |
Why it changes Peruvian trade
As a deep-water port with a direct Asia connection, it reduces reliance on stopovers in other countries and shortens export times for Peruvian goods, especially agribusiness and mining products.
Frequently asked questions
- When did the Chancay Megaport open?
- On November 14, 2024, during the APEC Forum held in Lima.
- Who owns the port?
- COSCO Shipping Ports (China) holds 60%, and Volcan Compañía Minera (Peru) holds 40%.
- How much was invested?
- Total planned investment is US$3.5 billion; the first phase involved close to US$1.3-1.4 billion.
- What makes it different from other Peruvian ports?
- Its draft of over 17 meters allows it to receive ships of up to 24,000 TEU, something Callao cannot do without expansion.
- How much travel time does it save to Asia?
- It cuts transit to Shanghai from 35 to 25 days, roughly a 10-day saving.
Source: Wikipedia and trade press cited above.
Source: Wikipedia / trade press