Politics
Peruvian government resolves dispute with Cosco over $1.3 billion port lease
Just days before a high-profile meeting between Peru's president and Chinese President Xi Jinping, the Peruvian National Port Authority (NPA) abandoned a decision that had upset China's state-owned shipping company Cosco.
Two years ago, the APN granted Cosco Shipping an exclusive license to develop and manage a new multi-purpose port in Chancay, Peru. This $1.3 billion development represents a landmark maritime infrastructure project for South America and could connect Asian maritime interests to markets across the Andes and even as far as Brazil, potentially bypassing the Canal de Panama for certain cargoes. It is Cosco's highest-profile new project in the Americas in years, and is scheduled to open at the Asia-Pacific Economic Cooperation (APEC) summit in Peru next November – giving China a showpiece visual to show its growing influence in Central and South America.
In March 2024, when the port of Chancay was approximately 70% complete, the APN decided to make a substantial modification to Cosco's permit. The agency decided it never had the authority to grant Cosco an exclusive right to operate the seaport and asked a judge to overturn its earlier decision. The AFN said the lawsuit was only a correction of an “administrative error” and should not affect operations on the ground.
Cosco and its bankers reacted negatively to this news and Cosco sought to open negotiations with the NPC to resolve the issue. The shipping company warned that if the problem could not be resolved amicably, it could resort to international arbitration. Exclusive operator rights are the norm for build-operate-transfer port development contracts and are found in most Peruvian seaports.
https://finance.yahoo.com/news/1-perus-pm-says-china-170938527.html
Throughout the months-long conflict, Peruvian political leaders have stressed that they believe the problem will be resolved and the port will still open on time this year. With the help of the Peruvian Congress, they achieved this goal. In early June, Congress passed an amendment to Peru's national port system laws, giving the APN legal authority to formally grant Cosco exclusive operator rights. Peruvian President Dina Boluarte signed it on June 8.
On Monday, just four days before Boluarte's meeting with Chinese President Xi Jinping, NPC lawyers asked the judge to withdraw their request for an annulment. The agency's decision to drop the lawsuit permanently restores Cosco's right to operate Chancay on an exclusive basis.
|
Sources 2/ https://maritime-executive.com/article/peru-s-government-resolves-dispute-with-cosco-over-1-3b-port-lease The mention sources can contact us to remove/changing this article |
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
 |
 |
 |
