Beijing Pressure Complicates $23bn Hutchison Ports Sale to MSC and BlackRock

Beijing has intensified political pressure on Li Ka-shing over the proposed $23 billion sale of Hutchison Ports’ international operations to MSC and BlackRock, despite Beijing having no direct legal jurisdiction over many of the assets involved, including terminals in the UK and Barcelona. The intervention has created what industry sources describe as an increasingly difficult impasse in negotiations, with BlackRock particularly exposed due to its planned majority ownership of the Balboa and Cristobal terminals in Panama (Maritime Executive).

If completed, the transaction would make MSC the world’s largest terminal operator, with an estimated 8.3% global market share, overtaking current leader PSA International, which handles close to 70 million TEU annually (Drewry, Lloyd’s List).

Separately, Panama’s Comptroller-General has called for the annulment of Panama Ports Company’s concession contracts, placing Hutchison’s 90% stake in the operator of both Pacific and Atlantic-side terminals under renewed scrutiny (Seatrade Maritime). The terminals, which posted volume growth of 14.7% in the most recent reporting period, are strategically critical to Panama Canal trade flows.