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China drops latest trade anchor in Latin America with new service to Peru megaport

By Mia Nulimaimaiti

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China drops latest trade anchor in Latin America with new service to Peru megaport

China has launched its first direct break-bulk shipping service to Peru’s Chancay port, as it steps up its trade, investment and influence in Latin America.
A vessel operated by Cosco Shipping Specialised Carriers departed last week from Suzhou in eastern Jiangsu province on its maiden voyage to the strategic gateway, with the journey expected to take about 32 days in total, according to local media outlet Suzhou Daily.
The ship, named Greensuape, is carrying more than 30,000 tonnes of cargo, including energy storage cabinets, jumbo bags, steel round bars and other equipment. The new direct shipping route will run once a month.
Unlike container ships, which specialise in standardised cargo and are known for their efficiency, break-bulk carriers transport irregular and oversized goods loaded individually.
The vessel’s main cargo – grinding balls used to crush ore into fine powder – will be supplied directly to mineral processing plants in Chancay to “safeguard the stable operation of the local mining industry chain”, according to Suzhou Daily.
Chancay port, a Belt and Road Initiative project in Latin America, was built by China’s Cosco Shipping Ports and Peru’s Volcan, with investment totalling about US$3.5 billion. It was inaugurated in November last year after the first stage of construction began in 2021.
With a depth of more than 18 metres, the port can accommodate even the largest vessels. Strategically located about 60 to 70 kilometres north of Lima on the Pan-American Highway – a network of roads linking multiple South American countries – it serves as a hub connecting Chile, Ecuador, China and other markets on both sides of the Pacific.
According to Suzhou Daily, the direct shipping route significantly shortens delivery times compared to traditional transhipment, giving companies in the Yangtze River Delta faster access to South American markets.
The first cargo ship to call at Chancay port came from Suzhou. In March this year, the two ports signed a friendship agreement to deepen cooperation in shipping resources, port development and talent exchange. To date, five voyages have been completed between them, delivering about 26,000 tonnes of cargo.
Trade between China and Peru reached US$27.93 billion in the first seven months of this year, up 16.97 per cent from the same period last year. China’s exports to Peru rose 20.79 per cent to US$8.97 billion over the same period, according to Chinese customs data.
Chancay Port is projected to contribute about 1.8 per cent to Peru’s gross domestic product (GDP), generating about US$4.5 billion annually and creating about 9,300 jobs, according to official Chinese data from last year.
Cosco Shipping said the port could reduce the shipping time from Peru to Asia to 23 days, down from 35 days, cutting logistics costs by more than 20 per cent.