PERU and Chinese state-owned COSCO Shipping have resolved a dispute over the US$3.6 billion Chancay port development which could be transformative for cargo trade between Asia and Peru. Peru and COSCO Shipping were caught in a spat for exclusivity rights which, according to Peru’s port authority, were given to Cosco by an ‘administrative error’, reports Singapore’s Splash 247. On the other hand, COSCO Shipping has been building the port with expectations of becoming its exclusive operator when...