Posted on July 23, 2025
On Monday, China’s state-owned China Cosco Shipping Corporation announced its intent to join a global consortium acquiring 43 overseas ports owned by Hong Kong-based CK Hutchison Holdings, led by business tycoon Li Ka-shing. The consortium, which includes BlackRock’s Global Infrastructure Partners unit and Terminal Investment, owned by Italian billionaire Gianluigi Aponte, is negotiating the acquisition of these ports, including two significant ones along the Panama Canal.
Cosco is seeking veto rights or equivalent authority within the consortium to influence decisions, emphasizing the need to protect China’s interests in the operation of these ports. Sources familiar with the matter stated: “Such rights are important to block any decisions that could potentially be detrimental to China’s interests.” Discussions are ongoing, with no final agreements reached.
The consortium, CK Hutchison, BlackRock, and Terminal Investment have agreed to grant Cosco full access to operational information, fostering transparency as talks continue. The ports, spanning 23 countries, represent a major infrastructure deal valued at $22.8 billion, aimed at enhancing global trade and logistics networks without impacting import or export balances directly.
Cosco, a leading global shipping company based in Shanghai, operates an extensive fleet and has significant experience in port management, making its involvement a strategic addition to the consortium. The acquisition, if finalized, will strengthen the group’s ability to manage critical maritime infrastructure, including the Panama Canal ports, which are vital for international shipping routes.
A spokesperson for the consortium noted: “Cosco’s participation is under discussion to ensure a balanced and collaborative approach to managing these global assets.” The deal’s progress is being closely monitored, with exclusive negotiations between CK Hutchison and the consortium set to conclude by July 27, 2025, and Cosco’s role potentially finalized by September.
The acquisition aligns with efforts to optimize global port operations, supporting efficient trade and logistics. The inclusion of Cosco reflects a commitment to collaborative management of these assets, ensuring operational stability and economic benefits across the regions served by the ports.
