On 16 May the Transport and Logistics Bureau (TLB) of Hong Kong launched the Port Community System (PCS), aiming to advance digitalisation on its port operations. In light of digital transformation trends in the global maritime industry, the PCS aims to promote digitalisation within Hong Kong’s port community, enhance cross-sector information interconnectivity and advance smart…
China’s foreign ministry has urged all parties in the controversial sale of CK Hutchison Holdings’ overseas ports to “act prudently” and stay in touch with Beijing amid a report that the Hong Kong conglomerate’s two Panama Canal facilities may be separated from the deal. Foreign Ministry spokesman Guo Jiakun said on Monday that authorities had…
What’s next China’s market regulator has not revealed the details of its antitrust probe such as whether it has started investigations and the scope of its assessment. Lawyers have said the regulator may implement anti-monopoly measures, such as prohibiting or conditionally approving the transaction. According to the deal between CK Hutchison and BlackRock, both parties…
A senior Panamanian official on Monday said he had uncovered evidence of misconduct by a Hong Kong company, a finding that could delay or even scuttle a ports deal that has put China at loggerheads with the United States. Last month the Hong Kong conglomerate CK Hutchison agreed to sell a business that encompasses 43…
The Hong Kong firm whose management of two ports at either end of the Panama Canal sparked US President Donald Trump’s ire flouted the conditions of its contract, an audit by Panama’s authorities found on Monday. The audit found “many breaches” of the concession awarded to a subsidiary of ports giant CK Hutchison to operate…
The Ukrainian Navy patrol boat zipped across the Black Sea, its double-barreled, 25-millimeter machine gun locked on the horizon. The enemy, Russia, was nowhere in sight, yet ever-present. In the command room, Captain Mykhailo and his crew scanned screens showing color-coded zones marking Russian mine-laden waters and red arrows tracking drones prowling the area. The…
Hong Kong-based port operator CK Hutchison Holdings is reportedly delaying its sale of two ports on opposite sides of the Panama Canal to a U.S.-led consortium. The deal has not been called off, according to a report from the South China Morning Post. The transaction was initially expected to be signed on April 2, according…
As scrutiny mounts over Hong Kong-based CK Hutchison’s sale of its Panama ports, experts say there is a patent lack of legal tools governing commercial transactions that authorities can use to stop the deal and they are highly sceptical the national security legislation will be invoked. But the conglomerate owned by tycoon Li Ka-shing’s family…
For more than a year, pro-Western marchers in Georgia, a former Soviet republic that borders Russia, have been accusing their government of allowing Moscow to increasingly reassert its sway over their country. But driving around this nation of 3.6 million people in the heart of the mountainous Caucasus region, the influence of another ambitious power…
An investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in Panama that are owned by a Hong Kong company and that have become the subject of tensions between Panama and the Trump administration. BlackRock will buy the ports, which sit at either end of the Panama Canal,…