Under pressure from US President Donald Trump, Hong Kong’s Hutchison announced the sale of its stake in the operation of the Panama Canal and other strategic ports to a US consortium. This move, valued at US$19 billion, marks a shift in control of key infrastructure for world trade.
The transaction involves the sale of 90% of the shares of Panama Ports Company (PPC) and other terminals to a group led by the financial giant BlackRock. Hutchison, until now operator of the ports of Balboa and Cristobal, located at both ends of the interoceanic canal, thus cedes its position in one of the most important maritime routes on the planet.
The announcement also boosted CK Hutchison Holdings’ shares in the Hong Kong stock exchange by 22.9%. The Panamanian government’s approval of the sale of PPC is still pending, but the agreement strengthens the influence of the United States in the area and reduces the Chinese presence in a key point of international trade.
The Panama Canal has been modernized over the last two decades to increase its capacity. It now allows the transit of larger ships and handles 5% of the world’s maritime trade, making it a key player in the global economy.
Since his arrival at the White House, Trump has questioned China’s role in the Panama Canal, noting that the Asian power maintained covert control over the waterway. Although the Panama Canal Authority has operated autonomously since 2000, the growing presence of Chinese companies in the region had generated tensions with Washington.
With this purchase, BlackRock and its consortium secure control of strategic infrastructure in international trade, while the departure of Hutchison marks a shift in economic influence in the region. It remains to be seen whether this transaction will have implications for relations between Panama, the United States and China soon.
A. M. 
