Cosco Shipping expands port interests in Spain and Peru

Cosco Shipping is expanding its maritime footprint through significant requests and responses regarding major port operations in Spain and Peru.

In Spain, Cosco’s subsidiary, CSP Iberian Valencia Terminal, has requested a 29-year extension to its concession at the Port of Valencia. The proposal seeks to extend the current agreement, which expires in 2041, until December 29, 2070, reaching the 75-year legal limit. The company plans to invest in infrastructure, including reinforcing the Príncipe Felipe pier and implementing electrification and new cranes to accommodate mega-container ships. The Port Authority of Valencia has removed specific economic budgets and investment figures from the public file.

In Peru, Cosco Shipping Ports Chancay responded to concerns from the United States regarding Chinese investment and Peruvian sovereignty at the Chancay megaport. During ExpoMina 2026, José Ignacio de Romaña, director of the Chancay terminal, suggested that the United States should respond to these concerns by increasing private investment in Peru and adhering to free-market principles. He argued that rather than viewing South America as a site of dispute between China and the U.S., the region should be seen as an opportunity for both powers to participate in regional development.