Port Chancay (Peru) Construction Almost Finished, Hopes to Enhance South America’s Trade Potential
Construction at Port Chancay (Peru), first began in 2019, is set to be completed at the end of this year.
The Chancay Port Terminal will have four docks, which will allow the Port to handle an annual capacity of 1 million TEUs. The terminal is expected to be the deepest port in Latin America, being able to accommodate ships 400 meters long and 60 meters wide, with an 18,000 container capacity.
South America hopes this will help enhance South America’s trade value, especially for Asia trade, as the goal with this construction is to reduce the distance between China and South America by two weeks.
U.S. Electronic Import Outlook This Year
Last year, containerized imports of electronics in the U.S. decreased for the second consecutive year, reflecting consumer hesitancy towards spending on personal technology due to elevated price inflation.
But could that change this year?
Some say yes. Reason being, devices bought during the beginning parts of the pandemic start to become outdated, prompting consumers to choose newer products with updated features.
We’re nearing the halfway point of this year, and the JOC reports electronic imports are on the rise this year, with shipment volumes increasing 16.6% year-over-year in the first quarter.