Panama channel, the battle on those who have to manage the airports: « No to the transition from the Chinese to MSC, neutrality at risk »

The path of MSC for the acquisition of two ports on Panama Canal It becomes tortuous. After the objections of the Chinese government, yesterday it was the Centralmerican state to express doubts about the deal that would bring the airports of Balboa and Cristobal under the control of the navigation company based in Geneva and owned by the Aponte family. The concentration of the ownership of the cargo ships and the port ports could go « at the expense of Panama’s competitiveness on the market »he told the Financial Times Ricona Vasquez, head of the authority of the Panama channel. And to be « not consistent with the neutrality » of the 82 kilometer channel that connects Atlantic and Pacific, he added, without hiding the aims of the Central American administration itself on the two stopovers placed at the ends of the channel.

The Chinese group

Currently, the two ports are owned by the Chinese group CK Hutchison. At the beginning of March, the conglomerate based in Hong Kong made an agreement of 23 billion dollars to sell Balboa and Cristobal and another 41 ports scattered around the world to a consortium led with 70% by Til (controlled of MSC with participations in 67 ports and 4.1 billion in revenues in 2023), the American Fund Blackrock (20%) and the sovereign fund of Singore Gic (10%). The signature of the definitive transfer contract, initially scheduled for April 2, it is slipped due to the undetected of unexpected obstacles. The operation was harshly criticized by media close to the Beijing government that stamped it as a surrender by CK Hutchison to the claims of Donald Trump on the Panama channel.

The Chinese antitrust survey

A few days later, the Chinese antitrust has started an investigation On the agreement that risks being entangled in the geopolitical tensions between Beijing and Washington. Although Balboa and Cristobal are two of the five ports on the canal and despite representing only a small part, albeit very symbolic of the operation which also includes stopovers in Mexico, Holland, Egypt, Australia, Pakistan. « Although everyone speak of it, the two ports of Panama applies only 4% of the deal, » said Blackrock’s CEO, Larry Fink. « We also bought six ports on the Suez channel, but nobody noticed »