A consortium led by Terminal Investment Ltd. (TiL), the port investment arm of MSC Mediterranean Shipping Company, has emerged as the main bidder in the proposed acquisition of 43 port assets from CK Hutchison Holdings, reports Bloomberg. The deal, which is valued at approximately $19 billion, includes a network of terminals across 23 countries.
TiL is controlled by the family of Gianluigi Aponte, founder of MSC, the world’s largest container shipping line. According to Bloomberg, the group of investors also includes U.S.-based BlackRock Inc. and its infrastructure division, Global Infrastructure Partners (GIP). The latter will jointly acquire two terminals located at the Atlantic and Pacific entrances to the Panama Canal, where it will hold a 51% stake. TiL will retain the remaining 49% ownership in those assets.
In his 2025 inauguration speech, President Trump controversially claimed, “We’re taking [the Panama Canal] back,” despite the canal being under Panamanian control since 1999. The latest port deal, which would give a U.S.-based firm majority control over two terminals at the canal’s entrances, may be viewed as a step toward that vision.
This development marks a shift in the leadership of the long-anticipated deal, which had previously been reported as being spearheaded by BlackRock. As Trans.INFO reported on 31 March, finalisation of the transaction was delayed amid political concerns from Beijing and regulatory scrutiny by China’s State Administration for Market Regulation.
While the proposed acquisition remains under negotiation, Chinese state media outlets and officials have voiced opposition to the sale, particularly over the transfer of Panama Canal terminals to non-Chinese ownership. CK Hutchison has operated the Balboa and Cristobal terminals since 1998, with its concessions extended for a further 25 years in 2021. The ports are considered strategically sensitive, given the canal’s role in handling around 3% of global maritime trade.
Despite delays in formalising the agreement – initially expected by early April – the deal has not been cancelled, and all parties remain engaged in discussions. In addition to Chinese regulatory review, Panama’s government is conducting its own audit of the CK Hutchison concessions.
According to Bloomberg, the MSC-backed TiL now stands to gain ownership of 41 of the 43 ports, further expanding the company’s global footprint in port operations. The move also reflects a broader trend of major container lines investing heavily in terminals and logistics assets to consolidate supply chain control following pandemic-era profit surges.
CK Hutchison has yet to issue a public statement regarding the reported change in consortium structure or the current status of the deal.
