APM Terminals to invest $550 million in Peru's Callao port

Investment and Expansion - APM Terminals will invest $550 million to expand Peru's Callao port starting in January, with the project expected to take two years [1] - The expansion aims to increase the terminal's capacity to 24,000 containers [1] Shipping Routes and Trade - Callao port began offering new direct shipping routes from China and South Korea in November, reducing transit times to approximately 23 days [2] - The new service is intended to enhance trade relations with Asia and establish Callao as a significant Pacific hub for Asian imports [2] - Initial shipments have included retail products from Chinese e-commerce platforms, indicating strong demand with shipments fully booked for the next six weeks [2] Competition and Infrastructure - APM and local port authorities view the nearby Chinese-built megaport of Chancay as "complementary," although there are concerns that both facilities may compete for Asian cargo as infrastructure investments increase along Peru's Pacific coast [3]