According to Panama Canal Authority (ACP) Administrator Ricaurte Vásquez Morales, the concessions will cover two sites: one on the Pacific side and one on the Atlantic side at Isla Telfers. Winning bidders will be granted 20-year rights to build and operate the facilities. Vásquez told the Wall Street Journal that the projects could add around $500 million annually to the Canal’s current $5 billion in revenue.
Vásquez said the ACP’s priority is to “boost container capacity and bring in more players for an equal playing field.”
APM Terminals, the port unit of Maersk, and France’s CMA CGM are expected to submit bids. MSC, already present on the Pacific side, would also be able to participate, but Cosco will be excluded from the process as a government-owned entity.
Hutchison sale delays add to uncertainty
The ACP’s new tender comes at a time when the future of the existing Panama Canal terminals remains unsettled. CK Hutchison’s $23 billion sale of its ports to BlackRock and MSC has been delayed well into 2026, after Beijing ordered a merger review despite the absence of any mainland Chinese assets in the transaction.
Chinese regulators argued that the sale posed a threat to national interests, while state-owned companies were instructed to avoid new partnerships linked to Hutchison’s controlling Li family. Cosco has since sought a 20–30% stake in the consortium, giving it significant leverage over the outcome.
Under the original structure, MSC was to assume majority ownership of 41 ports across Asia, Europe and the Middle East, while BlackRock would take control of Hutchison’s two Panama Canal terminals. U.S. President Donald Trump, who earlier this year pledged to “retake the Panama Canal,” welcomed the deal as a way of limiting Chinese influence in the region. Beijing, however, has made clear that no final agreement will go ahead without its approval.
Canal neutrality and competition at stake
For European logistics providers, the ACP’s port strategy underlines the Canal’s central role in global supply chains linking Europe, Asia and the Americas. With competition between carriers intensifying, the outcome of both the Hutchison sale and the new concessions will determine how container handling capacity is distributed across the waterway.
By opening the door to APM Terminals and CMA CGM, while barring Cosco, the ACP is signalling a clear intention to broaden participation while limiting state-linked influence. The tender is expected to conclude by the end of 2025.
