July 24th, 2025 – China may block the sale of global port assets by Hong Kong-based CK Hutchison to U.S. investment firm BlackRock and the Mediterranean Shipping Company (MSC) unless Chinese shipping giant Cosco is included in the deal, according to a Wall Street Journal report citing unnamed sources.
In March, Hutchison announced plans to sell its 80% stake in port terminals — held through its subsidiary Hutchison Port Holdings — spanning 43 ports in 23 countries for $22.8 billion. The company is controlled by Hong Kong billionaire Li Ka-shing.
The proposed sale includes strategically significant terminals near the Panama Canal, a key global trade route that former President Donald Trump identified as a U.S. strategic priority.
MSC, based in Geneva, is the world’s largest container shipping line, operating a fleet of more than 800 vessels with a total capacity of 5.6 million twenty-foot equivalent units (TEUs).
The Journal reported that BlackRock, MSC, and Hutchison are open to including Cosco in the transaction. However, the companies did not immediately respond to requests for comment. Messages left for the White House and China’s media office were also not returned.
The report noted that no agreement is expected before a July 27 deadline for exclusive negotiations between BlackRock, MSC, and Hutchison.
