Chinese Port in Peru Faces Surprise Challenge to Business Model [BNN Bloomberg (Canada)]
COSCO SHP HLDG UNSP/ADR (CICOY)
NASDAQ:AMEX Investor Relations:
coscointl.com/en_ir_ho.asp
Company Research
Source: BNN Bloomberg
Peru's port authority said last week that Cosco Shipping's Chancay port was mistakenly granted exclusivity over the services to be offered on site. Now, the regulator is saying the facility should be open to other companies offering services such as loading and unloading shipping containers. “Evidently, this would alter any business plan,” said Francisco Roman, a former senior attorney for DP World in Peru, which exclusively operates the largest container terminal in the country. The Chancay port, set to open in November when Peru hosts the Asia-Pacific Economic Cooperation conference, is a lightning rod for US-China trade tensions in South America. US officials have criticized Peru for allowing a state-owned Chinese company to build such a large infrastructure project in the country, while Peruvian authorities have countered that US firms aren't willing to make the same kinds of investments in the region as Beijing. Once operational, the port facility north of Lima could trans
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News
- Container Shippers Lost Nearly $700 Million in Q4 2023 [Yahoo! Finance]Yahoo! Finance
- UPDATE 1-Peru's PM says China-built megaport should launch this year after dispute [Yahoo! Finance]Yahoo! Finance
- Peru PM says China-built megaport should launch this year after exclusivity dispute [Yahoo! Finance]Yahoo! Finance
- Chinese Lenders Raise Concerns About $1.3 Billion Peru Port Deal [Yahoo! Finance]Yahoo! Finance
- Chinese Lenders Raise Concerns About $1.3 Billion Peru Port Deal [BNN Bloomberg (Canada)]BNN Bloomberg