A rare direct link from China to Latin America linking the Asian giant’s busiest shipping hub Guangzhou Port to Peru’s Chancay Port launched yesterday, Reuters reports, citing a statement from China’s public broadcaster CCTV. Cosco’s Volga Vessel will be the first ship embarking on the voyage with about 400 containers of auto parts, refrigerators, home appliances, and other goods.

The rationale: The direct link is set to cut the cost of China-South America voyages by 20%, with each trip expected to take about 30 days. The route will also see Chancay port — which has recently undergone a USD 3.5 bn upgrade — act as a linking point for Chinese ships heading to other South American ports, such as Mexico's Manzanillo Port and Chile's San Antonio Port,

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