Peru's Chancay megaport, with 60% Chinese ownership, is establishing itself as a regional logistics hub while generating geopolitical tension with the United States and prompting insurers and shipping lines to assess new risks and logistics strategies.
The Port of Chancay, in Peru, is establishing itself as a new regional logistics hub with majority participation from the Chinese shipping line Cosco Shipping Ports Limited, which controls 60% of the project. Its development has sparked geopolitical controversy, as the United States has shown interest in investing in the country to counter Chinese influence in the region, according to Erika Schoch, strategic marine consultant for Latin America and the Caribbean at Gallagher Re. At the same time, China's strategy in Latin America combines investments in infrastructure, technology, and cooperation mechanisms, among which Chancay stands out as one of the most prominent projects.
According to Schoch, Chancay's growth is forcing insurance and reinsurance companies to assess new risk scenarios, such as the probability of a tsunami impacting the port. The specialist noted that insurers must determine who will cover the vessels operating there and what policies will be required, since exporters currently shipping out of Callao could shift their cargo northward, which would mean reworking the logistics for products such as asparagus.
A report released by an Ecuadorian binational chamber explained that, in addition to Chancay, in 2025 China announced a $9.2 billion credit line for CELAC along with new cooperation programs. In Ecuador, the Free Trade Agreement with China opens up export opportunities, although the analysis warns of the risk of greater dependence on raw materials, citing the experiences of Peru and Chile as a reference point regarding diversification challenges. The Human Rights Foundation report states that this combination of economic, technological, and cultural ties seeks to consolidate Beijing's presence in the region.
Chancay's development is also challenging other Pacific coast countries. In Chile, academic Álvaro Peña argued that the Peruvian port is pushing the country to strengthen its connection with Asia, though he noted that the competitiveness of each route will depend on the combined performance of rates, frequencies, and transit times. Between January and July 2026, Chancay handled 246,452 TEU, 74% more than in the same period of 2025, driven in part by growth in regional transshipment. Ecuadorian cargo is already using the Guayaquil-Chancay-Shanghai route, with a transit time of around 27 days, which benefits exports of bananas, shrimp, and cocoa.
At the same time, the Ministry of Housing, Construction and Sanitation, through the National Superintendency of State Assets, identified 1,211 hectares across six strategic plots located in the port's area of influence, through a cadastral survey conducted with drones. Minister Mauricio Arnillas noted that this information will make it possible to assess the potential disposition of these lands, including their sale through public auction, in order to drive new investments in the area.
Despite Chancay's growth, not all shipping lines have incorporated the port into their operations. Gilberto Santos, general manager of ONE Peru, explained that Ocean Network Express concentrates around 80% of its cargo at Callao and does not plan to add a call at Chancay in the short term. "There is no operation effectively heading there in our pipeline in the short term," Santos stressed, adding that for the company it is more efficient to concentrate cargo at a single port rather than splitting it between both terminals.