According to the Financial Times, the Chinese shipping group has sought a controlling position in the consortium negotiating to acquire the port assets from CK Hutchison. The consortium is led by BlackRock and MSC, which are reportedly unwilling to accept Cosco’s conditions and are considering withdrawing from the deal.
CK Hutchison announced plans in 2025 to sell a large part of its ports business in a transaction valued at around $23bn. The assets include dozens of container terminals across Europe, Asia, the Americas and key strategic locations near the Panama Canal.
The deal has attracted close scrutiny from regulators and governments, particularly due to concerns over geopolitical influence and control of critical infrastructure. While Cosco was initially expected to take a minority stake, recent reporting suggests it is now seeking majority ownership and enhanced governance rights.
Neither CK Hutchison, BlackRock, MSC nor Cosco has publicly confirmed the latest demands or the current state of negotiations.
Political and regulatory pressure in the background
The proposed transaction has already been complicated by political sensitivities. The sale of terminals linked to the Panama Canal has drawn attention from US and Panamanian officials, while Chinese regulators are also expected to play a decisive role in approving any final structure.
Industry analysts note that any change giving Cosco a controlling position could significantly increase regulatory resistance in multiple jurisdictions, potentially delaying or derailing the transaction altogether.
No formal collapse but no progress either
As of early January 2026, there has been no official announcement that the deal has collapsed. However, reporting over the past week indicates that negotiations remain at an impasse, with ownership structure emerging as the central obstacle.
For the global transport and logistics sector, the outcome matters far beyond corporate ownership. Control over major port assets influences shipping alliances, hinterland logistics flows and competition conditions for road, rail and inland transport operators serving these terminals.
At present, the Hutchison Ports sale remains unresolved, with its future dependent on whether the parties can bridge widening differences over control and governance.
