Brazil eyes exports via China-controlled Chancay port, Peruvian minister says [Reuters]
COSCO SHP HLDG UNSP/ADR (CICOY)
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Source: Reuters
Economy Minister Jose Arista said on Thursday, according to state news agency Andina. Brazilian Planning Minister Simone Tebet visited the port, still under construction, earlier this week and spoke with Arista about the possibility of using it as an export route, Andina reported. It would offer Brazilian exporters the opportunity to send goods by truck to the Peruvian port for shipping to Asia via the Pacific Ocean, cutting the transit time by about two weeks. Shipping from the port provides an alternative to the Panama Canal, where ships have encountered delays and logjams due to the impact of dry weather conditions on the canal's water levels. The Peruvian terminal, the first under Beijing's control in South America, will also serve as a crucial gateway for China to the region. Arista said Tebet plans to speak with Brazilian President Luiz Inacio Lula da Silva about the port's potential for Brazil and hopes to arrange a visit by Lula to meet with Peruvian President Dina B
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