In March, Peru’s port authority said ‘administrative error’ had given Cosco Shipping exclusivity at Chancay megaport and asked a judge to annul the decision.
The Peruvian government is looking to avoid an international arbitration process which could be filed by Chinese port operator Cosco Shipping over a legal dispute regarding exclusivity rights to a massive facility being built by the firm, an official said on Monday. Cosco sent a letter to Peru's economy ministry in mid-April to start a six-month negotiation process in order to reach an amicable resolution without having to resort to international arbitration, local media first reported on Monday. Economy Minister Jose Arista said in an interview with local radio station RPP that he had received the letter but not yet replied.
LIMA - The Peruvian government is looking to avoid an international arbitration process which could be filed by Chinese port operator Cosco Shipping over a legal dispute regarding exclusivity rights to a massive facility being built by the firm, an official said on Monday. Read more at straitstimes.com.