Panama ports deal hits impasse as China demands controlling stake
Dec 19, 2025
China has upped its demands and is now pushing for state-owned ship operator Cosco to get a controlling stake in a $22.8 billion ports deal involving two contentious ports near the Panama Canal, The Wall Street Journal reported, citing people familiar with the matter. BlackRock and Italian Gianluigi Aponte’s family-run shipping firm, MSC, which earlier secured a deal for the ports, had been open to offering Cosco an equal stake, the report said, adding, however, that talks have now hit an impasse after the fresh demands. The proposed sale includes two ports at the Panama Canal and more than 40 others around the world, all controlled by Hong Kong-based CK Hutchison. BlackRock and containership operator Mediterranean Shipping Co. reached a $22.8 billion agreement in March to buy them after Trump raised security concerns about Hutchison’s—and the ports’—connection to China, as per a report.
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