Major Taiwanese news network Liberty Times Network (LTN) recently reported that, in March, Li Ka-shing’s CK Hutchison Holdings Group announced that it would sell its Panama Canal and 43 other port businesses to an investment team consisting of U.S. firm BlackRock and Mediterranean Shipping Company (MSC). The exclusive negotiation period between the two parties expired at the end of July.
CK Hutchison Holdings immediately issued a statement saying it would continue negotiations with the investment team and consider inviting major strategic investors from China to join. So far, COSCO is the only Chinese company allowed by Beijing to participate in the negotiations. U.S. Ambassador to Panama Kevin Marino Cabrera pointed out that CK Hutchison Holdings is a “communist company” and any operator with ties to China must withdraw from operations at the main ports of the Panama Canal.
COSCO is seeking to acquire a stake of 20 to 30 percent in this deal. One proposal would see COSCO acquire stakes in 41 ports, excluding two Panama Canal ports. U.S. Ambassador Cabrera stressed that Washington supports replacing CK Hutchison Holdings.
In the meantime, the Panamanian government has also taken action. It has filed a lawsuit against the operator of the two key Panama Canal ports, a subsidiary of CK Hutchison Holdings. Panamanian President Jose Raul Mulino emphasized that if the court rules that the renewal contract for the ports’ operating rights is invalid, Panama will reclaim the rights.
Source: LTN, August 9, 2025
https://ec.ltn.com.tw/article/breakingnews/5137917