Seatrade Maritime: APM Terminals investing in Callao port expansion

APM Terminals will invest $550 million to expand Peru’s Callao port starting in January, according to a report by Reuters.

APM Terminals’ Commercial Director for the Peruvian unit, Fernando Fauche, said during the launch of a weekly cargo shipping service from China and South Korea that the investment will be carried out over two years to increase the terminal’s capacity and accommodate vessels carrying up to 24,000 containers.

APMT’s Callao port began offering, in November, new direct shipping routes from China and South Korea. MSC service Alpaca 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.

“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,” said APM Terminals Callao CEO Carlos Arias.