FILE PHOTO: A ship sails near the Balboa Port after Hong Kong's CK Hutchison Holdings Ltd 0001.HK agreed to sell its interests in a key Panama Canal port operator to a BlackRock Inc-backed consortium, amid pressure from U.S. President Donald Trump to curb China's influence in the region, Panama City, Panama, March 4, 2025. REUTERS/Enea Lebrun/File Photo
July 17 (Reuters) – China is threatening to block the sale of more than 40 ports, owned by Hong Kong-based CK Hutchison, to BlackRock and Mediterranean Shipping Company (MSC) if Chinese shipping company Cosco does not get a stake, the Wall Street Journal reported on Thursday, citing unnamed sources.
Reuters could not immediately verify the WSJ report.
CK Hutchison, MSC, BlackRock and Cosco did not immediately respond to Reuters’ requests for a comment, while the Chinese government could not be immediately reached outside office hours.
Chinese officials have told BlackRock, MSC and Hutchison that if Cosco is left out of the deal, Beijing would take steps to block Hutchison’s proposed sale of the ports, the newspaper said.
Tycoon Li Ka-shing’s CK Hutchison in March announced it would sell its 80% holding in the ports business, which encompasses 43 ports in 23 countries. The business has an enterprise value of $22.8 billion, including debt.
After much scrutiny and criticism in China, Hong Kong conglomerate CK Hutchison confirmed in May Italian billionaire Gianluigi Aponte’s family-run MSC, one of the world’s top container shipping groups, was the main investor in a group seeking to buy the ports.
BlackRock, MSC and Hutchison all are open to Cosco taking a stake, WSJ said.
However, the parties would likely not reach a deal before a previously agreed upon July 27 deadline for exclusive talks between BlackRock, MSC and Hutchison, the report added.
The proposed sale has also drawn the attention of U.S. President Donald Trump, who has repeatedly expressed his desire to reduce Chinese influence around the Panama Canal and termed the deal a “reclaiming” of the waterway after it was first announced.
(Reporting by Angela Christy and Mrinmay Dey in Bengaluru; Editing by Shinjini Ganguli)
(c) Copyright Thomson Reuters 2025.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
By Gabriel Stargardter CALAIS, France, July 4 (Reuters) – Early one morning this week, a dinghy motored along a vast beach in northern France, stopping every few hundred meters to pick up...
President Donald Trump's administration is considering softening its proposed fee on China-linked ships visiting U.S. ports after a flood of negative feedback from industries that said the idea could be economically devastating, according to six sources.
By Dimitri Rhodes Nov 7 (Reuters) – Belgian oil tanker company CMB Tech says it will focus on the fast growing market in India as it reported third quarter results...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
