HONG KONG's CK Hutchison will sell its 80 per cent stake in Hutchison Ports Holding to a Blackrock-TiL consortium, which makes the Mediterranean Shipping Company (MSC) the global leader container terminal operations together with its standing as the world's biggest shipping company The US$22
HONG KONG's CK Hutchison will sell its 80 per cent stake in Hutchison Ports Holding to a Blackrock-TiL consortium, which makes the Mediterranean Shipping Company (MSC) the global leader container terminal operations together with its standing as the world's biggest shipping company The US$22.8 billion transaction, the largest ever in the global container terminal sector, comes amid heightened political scrutiny over Chinese influence in critical maritime infrastructure.
Notably, the deal also includes the sale of Hutchison Port Holdings' 90 per cent interest in Panama Ports Company, which operates the Balboa and Cristobal ports on opposite ends of the Panama Canal.
Since December, President Trump has repeatedly criticized alleged Chinese influence over Panama Canal operations and discriminatory practices against the US -claims that the Panamanian government has firmly rejected.
'My administration will be reclaiming the Panama Canal, and we've already started doing it,' Trump said in his address to a joint session of Congress this week. 'Just today, a large American company (BlackRock) announced they are buying both ports around the Panama Canal and lots of other things having to do with the Panama Canal and a couple of other canals.'
Drewry's global terminal operator (GTO) rankings show Hutchison Ports currently operates 43 maritime container terminals outside China and Hong Kong, spanning from Australia to the UAE, with a combined capacity exceeding 73 million TEU and throughput of nearly 47 million TEU as of 2023.
MSC's existing portfolio, which includes a 70 per cent stake in Terminal Investment Limited (TiL), full ownership of Africa Global Logistics, and various Italian terminals through Marinvest, handled over 70 million TEU in 2023, according to Drewry.
'The deal will see MSC leapfrog other leading GTOs to secure the top spot in the global terminal operator rankings which Drewry produces each year, securing the Swiss-headquartered container carrier a truly global network of container terminals,' points out Eleanor Hadland, Drewry's ports and terminals analyst.
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