# Cosco Shipping port expansion in Spain and Peru > Live situation record from CLSTR: https://clstr.news/situations/cosco-shipping-port-expansion-in-spain-and-peru > Updated: 2026-09-26T19:18:00.000Z. Sources: 5. Developments: 2. Cosco Shipping is expanding its maritime and logistics footprint through major port operations in Spain and Peru. In Spain, the company’s subsidiary, CSP Iberian Valencia Terminal, has requested a 29-year extension to its concession at the Port of Valencia, aiming to extend the agreement until 2070. This proposal includes investments in infrastructure, such as pier reinforcement and electrification, to support mega-container ships. In Peru, the Chancay megaport has emerged as a significant regional logistics hub. During the first half of 2026, the port saw a 57% increase in export value compared to the previous year, with 320 companies exporting US$ 552.7 million. Transshipment activity has also grown, with the port becoming Peru’s second-largest player in this sector, trailing only DP World. Amidst this growth, the Chancay terminal has faced geopolitical scrutiny. José Ignacio de Romaña, director of the Chancay terminal, addressed concerns from the United States regarding Chinese investment and Peruvian sovereignty by suggesting that the U.S. should respond through increased private investment and adherence to free-market principles, rather than viewing South America as a site of dispute. ## Timeline ### 2026-09-26: Chancay Port establishes itself as a major regional logistics hub Peru's Port of Chancay has emerged as a major regional logistics hub, seeing significant growth in exports and transshipment volumes through early 2026. 2 sources. https://clstr.news/cluster/chancay-port-establishes-itself-as-a-major-regional-logistics-hub ### 2026-09-10: Cosco Shipping expands port interests in Spain and Peru Cosco Shipping seeks a concession extension for its Valencia terminal until 2070 and defends its Chancay megaport investment in Peru against U.S. sovereignty concerns. 3 sources. https://clstr.news/cluster/cosco-shipping-expands-port-interests-in-spain-and-peru --- Cite as: Cosco Shipping port expansion in Spain and Peru. CLSTR, https://clstr.news/situations/cosco-shipping-port-expansion-in-spain-and-peru