Panama Canal ports deal a boost for CK Hutchison but ‘worrying’ for Hong Kong

FILE PHOTO: An aerial view shows cargo vessels docked at Balboa Port, operated by Panama Ports Company, at the Panama Canal, in Panama City, Panama, February 1, 2025. REUTERS/Enea Lebrun/File Photo

Cargo vessels docked at Balboa Port, operated by Panama Ports Company, in the Panama Canal on Feb 1.

PHOTO: REUTERS

Magdalene Fung

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HONG KONG – The planned sale of a port stake in the Panama Canal by a conglomerate owned by Hong Kong’s richest man Li Ka Shing shields the city from a brewing geopolitical storm, but could have “unintended consequences” for its role as a super-connector between China and the rest of the world.

CK Hutchison on March 4 said it is

selling a majority stake in its lucrative port business

– including assets on both ends of the vital waterway for global trade – to a consortium led by US investment giant BlackRock for US$22.8 billion (S$30.5 billion).

Panama Canal ports deal a boost for CK Hutchison but ‘worrying’ for Hong Kong

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