APM Terminals will invest $550 million to expand Peru’s Callao port starting in January, according to a report by Reuters.
The investment aims to increase the terminal’s capacity and accommodate vessels carrying up to 24,000 containers. The expansion is expected to be carried out over two years. This development comes as APM Terminals’ Callao port began offering new direct shipping routes from China and South Korea in November.
Fernando Fauche, Commercial Director for APM Terminals’ Peruvian unit, said during the launch of a weekly cargo shipping service from China and South Korea that the new service is designed to strengthen trade ties with Asia and position Callao as a key Pacific hub for Asian imports. The weekly service will connect the Chinese port of Ningbo and South Korea’s Busan with the port of Callao.
Carlos Arias, CEO of APM Terminals Callao, said, “This non-stop route -cuts the usual maritime shipping times to Asia by up to 15 days, generating an immediate impact on sectors such as manufacturing, retail, technology, and mining, which are essential to the Peruvian economy.”
For more information, visit Seatrade Maritime.
