The Hong Kong-based conglomerate CK Hutchison Holding, which operates ports near the Panama Canal, has agreed to sell its shares to a business consortium that includes the U.S. firm BlackRock. This decision follows concerns raised by President Trump over China’s involvement in the operations of the crucial trade route connecting the Atlantic and Pacific Oceans.
According to official filings, CK Hutchison Holding announced on Tuesday that it will sell all shares of its subsidiaries Hutchison Port Holdings and Hutchison Port Group Holdings. These two entities constitute 80% of Hutchison Ports, which operates 43 ports in 23 countries.
The acquiring consortium includes BlackRock, Global Infrastructure Partners (both U.S.-based), and Terminal Investment Limited (Switzerland-based), which will collectively own 90% of Panama Ports Company—the operator of Balboa and Cristobal ports in Panama.
The decision comes amid growing U.S. concerns about China’s influence. In January, Senator Ted Cruz, chair of the Senate Commerce, Science, and Transportation Committee, warned that China could exploit or block passage through the canal, calling it a “national security threat” to the U.S.
U.S. Secretary of State Marco Rubio visited Panama in February, urging President Jose Raul Mulino to curb Chinese influence or face potential consequences from Washington. Shortly after, Panama withdrew from China’s Belt and Road Initiative, prompting sharp criticism from Beijing.
This shift in port control marks a significant development in the ongoing U.S.-China geopolitical rivalry, particularly over critical global trade infrastructure.
