Top Trans-Pacific Carriers and Ports
Special Report
The ACP’ s proposed 5 million-TEU Corozal Container Terminal has been in abeyance since 2017. Shutterstock. com
Neither TiL nor NMG responded to requests for comment from the Journal of Commerce, but Hutchison has confirmed that TiL is the lead partner in the planned acquisition. If it goes through, MSC, already the world’ s largest container line by capacity, will also become the largest global terminal operator, with annual throughput of almost 120 million TEUs based on 2023 figures, according to estimates from maritime consultancy Drewry.
The BlackRock-TiL deal comprises two agreements. The first covers the sale of Panama Ports Co.( PPC), in which Hutchison has a 90 % stake and operates Balboa and Cristobal terminals at either end of the canal; the second includes Hutchison’ s 80 % stake in Hutchison Port Holdings, which controls its non-China terminals, a total of 199 berths across 43 ports in 23 countries.
“ Concessions made to port operators... lie fully in the hands of the Panamanian government. However, we are aware of the concerns.”
But the deal, particularly the sale of the Panama ports, is caught in the crossfire of a geopolitical wrangle between the US and China. Semi-official commentators in China have voiced opposition to the sale on national security grounds, while China’ s anti-trust regulator is probing the sale, also partly on national security grounds.
At the same time, the Trump administration has vowed to take back control of the canal to curb what it says is China’ s control of cargo through the waterway.
Panama legal officials are also probing the way PPC secured an extension to its 25-year concession to operate the Balboa and Cristobal terminals in 2021 for possible irregularities. The Panama government and PPC have denied any wrongdoing.
There are currently five operators with terminals along the canal. Aside from Hutchison’ s PPC, other firms with facilities are Taiwan’ s Evergreen Marine, which operates Colon Container Terminal; PSA International, which controls the PSA Panama International Terminal at Rodman; SSA Marine, which operates the Manzanillo International Terminal at Colon; and TiL / NMG with the PCCP.
email: keithwallis @ hotmail. com www. joc. com July 7, 2025 | Journal of Commerce 19