APM Terminals will invest $550 million in expanding Peru’s Callao port from January, the company’s Peru Chief Commercial Officer, Fernando Fauche, announced this week.
The two-year project is expected to boost the terminal’s capacity by 24,000 containers.
Fauche spoke during an event marking the launch of new direct shipping services from Asia to the central coast facility.
Callao began offering direct routes from China and South Korea in November, reducing transit times to around 23 days.
Port officials said the new service is intended to deepen trade links with Asia and strengthen Callao’s position as a key Pacific hub.
Initial shipments have included retail goods from Chinese e-commerce platforms such as Temu, and demand remains strong.
“Shipments are fully booked for the next six weeks. There’s demand,” Fauche said.
Both APM Terminals and Peruvian port authorities described the nearby Chinese-built Chancay megaport as “complementary”.
However, analysts caution that the two ports may ultimately compete for Asian cargo as investment along the Pacific coast accelerates.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.