According to the Financial Times, the Chinese state-controlled group aims to acquire a 20-30% stake in the consortium. One scenario envisions Cosco joining the Aponte family in purchasing all terminals except the two Panama ports, which would go to BlackRock.
Genoa – Following the French CMA-CGM, the Chinese shipping group Cosco is also interested in participating in the operation that would bring 43 international ports under the control of Til (the MSC group of the Aponte family, which already holds stakes in 67 maritime terminals). According to the Financial Times, the Chinese state-controlled shipping and logistics company aims to secure a 20-30% share in the consortium, currently led by Til with 70%, alongside the U.S. fund BlackRock (20%) and Singapore’s GIC (10%). The consortium had already reached an agreement to purchase the 43 ports from CK Hutchison, a Hong Kong-based conglomerate with operations in various sectors, including telecommunications (WindTre), for $23 billion.
However, the deal was blocked by Chinese authorities, who launched an antitrust investigation into the transaction. According to Beijing, the sale of the ports would mean CK Hutchison yielding to the claims of U.S. President Donald Trump over the Panama Canal. Among the 43 ports involved in the deal are Balboa and Cristobal, located at the ends of the 82-kilometer canal, over which the White House asserts U.S. control. In reality, the two Panama ports account for only 4% of the deal. Under the initial plan, the majority of the two Panamanian ports would have gone to BlackRock, while Til-MSC would have taken over the other 41 terminals spread across Mexico, the Netherlands, Australia, Pakistan, and Egypt.
Thus, CK Hutchison recently clarified that changes to the consortium’s composition and the deal’s structure will be necessary to secure approval from all relevant authorities. The Hong Kong-based group added that negotiations with MSC, BlackRock, and GIC are ongoing “to allow the entry of a major Chinese investor into the consortium.” This is where Cosco comes in—already managing 39 ports worldwide and ranking among the largest container shipping groups behind Hapag-Lloyd, CMA-CGM, Maersk, and MSC.
The Financial Times reports that one option under consideration would see Cosco join Til-MSC in acquiring all ports except the two in Panama, which would remain under BlackRock’s control. This would align with Trump’s desire to reduce perceived Chinese influence over the canal while allowing China a broader presence and influence in the global maritime landscape.
