The world’s biggest container shipping line, MSC, is also likely to become the largest port operator across the globe if it succeeds in taking control of 41 facilities from Hong Kong’s CK Hutchison Holdings, further reducing the number of firms running terminals, industry experts have said. Geneva-based MSC, which is the first container carrier to…
A deal by Hong Kong-based CK Hutchison Holdings to sell all its overseas ports to a consortium led by US firm BlackRock has taken a fresh twist, with the revelation that the new majority shareholder will not be American, but a low profile Italian-Swiss family with ambitions to control global shipping. Sources told the Post…
US investment firm BlackRock, which is leading a consortium seeking to buy 43 ports from Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings, aims to take control of its two strategic Panama Canal facilities, while Italy’s wealthy Aponte family will have a majority stake in the others, the Post has learned. A source close to…
Li Ka-shing’s CK Hutchison Holdings has defended the contract that has allowed it to run two ports at the Panama Canal since 1997, saying the concession was “validly executed and approved by law” and denying it failed to pay more than US$1 billion to the country, as had been claimed in a sweeping financial audit….
A senior United States official has discussed the importance of an ongoing audit of CK Hutchison’s management of two ports at the Panama Canal with the country’s foreign minister, amid controversy surrounding the Hong Kong company’s sales of the facilities. Panamanian authorities announced their audit of Hong Kong tycoon Li Ka-shing’s CK Hutchison in January…
A high-stakes deal for control over two of the Panama Canal’s most strategic port terminals has hit a wall of geopolitical and legal resistance, with mounting pressure from China and a constitutional challenge in the Central American country delaying its signing, potentially derailing the agreement. Hong Kong-based CK Hutchison had been set to finalise the…
(Photo: Panama Ports Co.) The chairman of one of the largest global investment managers says ports are as critical to future infrastructure of the global economy as data centers and power grids. BlackRock Chairman Laurence Fink in an annual letter to investors said that’s why the company spent 2024 transforming itself into a leader in…
By Suzanne McGee (Reuters) – U.S. investors poured a record $10.6 billion into exchange-traded funds focused on European stocks in the first quarter, seven times the inflows recorded a year earlier, according to data from BlackRock. As U.S. President Donald Trump’s tariffs and economic policies fuel uncertainty across markets, European equities have emerged as a…
BlackRock, the asset manager at the centre of a deal to buy US$23 billion in port assets from Li Ka-shing’s CK Hutchison Holdings, has about US$15.5 billion invested in Hong Kong and mainland-listed stocks through its China-focused funds, with its portfolios concentrated on technology and financial companies. According to its website, the world’s largest money…
China’s foreign ministry on Monday warned over economic coercion and bullying that undermined the legal rights of other countries, while Beijing’s top office on Hong Kong affairs shared another scathing article that urged Li Ka-shing’s CK Hutchison Holdings to rethink its Panama ports deal. The ministry also made its first comment over the State Administration…