By Felipe Quinteros, CEO of International Line
The construction of the Chancay megaport in Peru represents a landmark event for the Pacific region and, particularly, for South America. This project has the potential to significantly transform the logistics and trade dynamics of the region.
The truth is that China’s involvement in the construction of the megaport aligns with a clear global strategy: strengthening its presence in key trade routes to consolidate its position as a leader in international trade and ensure the efficient flow of its exports and imports. Choosing Peru as the logistics epicenter of the Pacific is no coincidence. Its strategic geographical location, combined with increasing economic dynamism, provides an ideal platform to connect Asian markets with South America and, eventually, with other regions of the world.
Why not Chile? It is a valid question to ask why China did not select Chile for this megaport, given its historical leadership in international trade in the Southern Cone. While Chile has a well-established port infrastructure, such as in San Antonio and Valparaíso, Peru presented an additional advantage due to its proximity to Ecuador, which facilitates connections with Northern Hemisphere markets and the opportunity to build a port from scratch. This allows for the design of modern and efficient facilities without the limitations of pre-existing infrastructure.
Additionally, bilateral relations between Peru and China have shown increasing dynamism, which may have influenced the choice of Chancay as the gateway to the South Pacific.
Challenges for logistics companies
With the launch of the Chancay megaport, logistics companies in the region will face significant challenges, including competition and differentiation, innovation and digitalization, regional interconnection, and sustainability. All companies in the logistics industry will need to adapt to a scenario of intensified competition, especially to attract cargo flows that have traditionally passed through other ports. It will also require the integration of new technology to modernize logistics processes. Strengthening terrestrial infrastructure will be essential to integrate Chancay with domestic and cross-border markets. Operations must align with international environmental standards, an aspect that will become increasingly relevant in global trade decisions.
The Chancay megaport will have direct implications for Chilean ports. In Iquique, there could be a redirection of trade flows toward Peru, reducing its international cargo volume. Likewise, in San Antonio and Valparaíso, competition could intensify, forcing these ports to innovate and improve their services to remain competitive.
In the far south, Magallanes may experience a less direct impact, but the redistribution of routes could open new connection opportunities for cargo coming from Asia, provided that the region capitalizes on the growing demand for alternative routes to the Panama Canal.
Ultimately, the Chancay megaport marks a turning point in South Pacific logistics. While it presents significant challenges, it also opens the door to new opportunities for all players in the sector.
