The Chancay Megaport, financed by Cosco Shipping, is consolidating its position as a key logistics hub in the South Pacific, transforming the commercial dynamics between South America and Asia. With an initial investment of USD 1.3 billion, this port reduces transit time between both regions by 10 days and allows a 20% reduction in logistics costs, optimizing the competitiveness of South American products in Asian markets. Since its entry into operation, in only three months, it has mobilized more than USD 292 million in goods.

In February 2025, Ecuador, Colombia and Chile will inaugurate three new maritime routes to Chancay, significantly improving connectivity with Asia. Ecuador will establish a route from Guayaquil, Colombia from Barranquilla and Chile will have two routes from San Antonio and Antofagasta. These new routes will reduce transit time to Asia: the Ecuador-China route will drop from more than 40 days to just 28 days, while Colombia will reduce its transit time to 30 days, representing a key logistical saving for exporters.

The impact on regional competitiveness is significant. Currently, Ecuador exports mostly through the Panama Canal, being the seventh country that used this route the most in 2024, or through ports in Mexico and the United States, which increases transit times and costs. With Chancay, Ecuador hopes to reduce these transit times and optimize the efficiency of its exports, benefiting key sectors such as bananas, shrimp and flowers. In addition, Ecuadorian businessmen are already exploring opportunities in logistics and storage zones near Chancay and Callao, in search of greater integration into Asian supply chains.

Globally, the entry into operation of the Chancay Megaport marks a structural change in maritime trade by offering a more direct and efficient route between South America and Asia. Its capacity to handle deep-draft vessels positions it as a strategic logistics node that will reduce logistics costs and increase the competitiveness of South American products in the Asian market. In addition, integration with land and river logistics corridors will facilitate trade with Brazil and Bolivia, strengthening intraregional trade and access to international markets.

For Ecuador, in particular, Chancay represents an opportunity to diversify its export routes and reduce costs, which would benefit key sectors such as bananas, shrimp, and canned tuna. Geographical proximity and new maritime routes facilitate greater integration into Asian supply chains, boosting the country’s economic growth.

In this sense, the Chancay Megaport is shaping up to be one of the most important investments in the history of Latin American trade, with the potential to boost industrial development, attract foreign investment and generate employment, consolidating South America as a key player in global trade.