ASOTEP Assessment: Peru's Chancay Megaport Impact on Ecuador 'Indirect and Non-Substitutive'

Ecuador's Asociación de Terminales Portuarios (ASOTEP) has published its assessment of the competitive impact of Peru's Chancay megaport on Ecuador's port system, concluding the effect has been "indirect and non-substitutive" — a complement rather than a displacement.

Chancay Operating Metrics

The Chancay megaport, located in Huaral Province, Lima Department (approximately 80 km north of Lima), has been operational since 2024. After approximately 18 months of operations:

Metric	Figure	Context
Annual throughput	~3 million metric tons	2.3% of Peru's national total
Container handling	~231,478 TEU	5.7% of Peru's containerized movement
Transshipment share	~16% of national tonnage	Dominant position in segment
Vessel capacity	Up to 24,000 TEU megavessels	—

ASOTEP Analysis

Iliana González, ASOTEP Executive Director, characterized the impact as involving three dynamics:

1. Reconfiguration of regional transshipment segment — Chancay is capturing transshipment volumes that previously routed through other Pacific ports
2. Adjustments in maritime routes toward Asia — Direct shipping lanes to Asian markets now route through Chancay, altering regional logistics patterns
3. Greater competition in connectivity and logistics efficiency — Regional ports must compete on service levels and infrastructure quality

González emphasized that Chancay functions as "a complementary logistics node rather than displacing Ecuadorian cargo operations," serving as a strategic hub for direct Asia connections through transshipment routes.

Ecuador's Port Investment Response

Ecuador's private port sector has been investing aggressively:

Period	Investment
Through 2025	** million** accumulated
Projected through 2030	~ million

The near-doubling of investment through 2030 suggests the port industry views the Chancay competition as a catalyst for modernization rather than a threat to viability.

Regional Competition Intensifying

Peru has awarded construction of a second megaport at San Juan de Marcona in the Ica region, with projected operations beginning in 2029. This would give Peru two Pacific-facing megaport facilities capable of serving Asia-bound trade routes — further reshaping the competitive landscape for Ecuadorian port operators.

What to Watch

• Ecuador port modernization timelines. Whether the M investment pipeline translates into capacity expansions or efficiency improvements that maintain competitive positioning
• Transshipment route shifts. If Ecuador-origin cargo begins routing through Chancay for Asian destinations, the impact assessment shifts from "indirect" to direct competition for logistics revenue
• San Juan de Marcona development. The 2029 timeline for a second Peruvian megaport compresses Ecuador's window to upgrade infrastructure
• Chinese investment patterns. Chancay is a Chinese-backed project (COSCO Shipping Ports). Monitor whether similar investment interest materializes for Ecuadorian port concessions
• Banana and shrimp export logistics. Ecuador's top commodity exports are volume-sensitive to shipping route costs. Any shift in carrier preference toward Chancay would show up in FOB pricing data

Source: El Universo