CK Hutchinson sells Balboa and Cristobal ports to BlackRock

Negotiations are currently underway between CK Hutchinson – a Hong Kong conglomerate – and the American consortium, composed of 40 companies, led by BlackRock for the strategic deal that will transfer ownership of two of the main ports of the Panama Canal to the U.S. asset management company BlackRock, which will conclude the operation for $19 billion. CK Hutchinson Holdings, owner of Panama Ports Company as well as the Wind 3 network in Italy, will sell 90% of the division controlling the ports of Balboa and Cristobal in Panama, along with 80% of Hutchinson Ports’ global activities.

BlackRock heads to Panama: among the consortium companies, the Aponte's Msc
BlackRock will complete the operation through an investment company of the group that manages and owns several ports, data centers, and airports: Global Infrastructure Partners, acquired in 2024 for nearly $13 billion. Among the 40 companies in the consortium is Terminal Investment Ltd (Til), based in Switzerland, but owned by the Mediterranean Shipping Company (MSC), which belongs to the Italian shipping magnate Gianluigi Aponte.

The Panama Canal issue
The deal fits into a broader political and strategic context, especially considering the recent statements by the U.S. president to Congress: the tycoon had already declared the U.S. administration’s intention to regain control of the Panama Canal, which was handed over to the Panamanian state 25 years ago through a concession agreement renewed in 2021 for another 25 years. Now, the situation could change rapidly: Trump claims that in recent months, it has been Beijing – through CK Hutchinson – that has had control of the canal, which is why it would be necessary for the United States to regain possession.