CK Hutchison is restructuring its terminal sale across 43 ports, including Panama, after negotiations with BlackRock and MSC collapsed due to Chinese
CK Hutchison is considering restructuring the sale of its terminal operations across 43 ports in 23 countries, including Panama Canal facilities, reports Fort Lauderdale's Maritime Executive.
The company had announced in March 2025 a US$22.8 billion deal with BlackRock and MSC's Terminal Investment Limited (TiL), but negotiations collapsed after China objected, stating that billionaire Li Ka-shing's firm was betraying national interests.
The original plan allocated BlackRock the largest share of Panama terminals, with TiL leading investments elsewhere, while Hutchison retained operations in China. However, China demanded participation, later insisting that state-owned Cosco hold a majority stake and veto rights.
Hutchison had expected to finalize terms for Panama by April 2025, but talks stalled. The lock-up granted to BlackRock and TiL expired in July, and by December, Bloomberg reported that negotiations were at an impasse.
Sources now indicate that Hutchison may break the portfolio into smaller parcels, a structure that China has signaled would be acceptable. Cosco would take control of terminals in regions critical to China's trade strategy.
Cosco Shipping Ports reported operating 375 berths at 39 ports globally at the end of 2024, including 226 container berths with a capacity of about 124 million TEU.
Bloomberg noted the mounting geopolitical headwinds as Donald Trump presses US interests in Latin America and challenges China. The Panama Canal remains the focal point, with BlackRock initially positioned to counter claims that China controlled the waterway.
