Trending News
Baltic Exchange Market Report (7 February 2025)...
  Daily Exim

NEWS DETAILS

Date: 07/03/2025

Hong Kong firm to sell Panama Canal port stake to US firm
 
An investor group backed by BlackRock has agreed to buy a majority stake in the Hong Kong-based company that runs ports along either side of the Panama Canal, giving a US firm control of key docks amid pressure from the White House to take them from China. The $22.8 billion sale by Hong Kong’s CK Hutchison to US and Swiss investors also includes dozens of ports in other countries. The sale of licenses will result in the consortium gaining a 90% stake in Panama Ports Company, which has been the operator of the Balboa and Cristobal ports in the Central American country for more than two decades. Last year, about 12,000 ships used the Canal, which connects 1,920 ports across 170 countries. But its position is strategic for Washington as over three-quarters of all vessels passing through the Canal originate in or are bound for the US, as per a report.
 
Source: Exim News Service: Hong Kong, March 6



Featured News

EXIM INDIA ONLINE SERVICES

APPOINTMENTS

View All

USEFULL LINKS

View All

Introduction

EXIM INDIA is a reputed and all-India recognised premier publishing house. It publishes a daily newspaper.

It publishes a daily newspaper "Exim Newsletter" from Mumbai & Western India, Gujarat, New Delhi & North India and Exim India - 'Shipping Times' from Kolkata, Chennai, Cochin and Tuticorin for the last 47 years.

Read More

QUICK LINKS

Contact Details

Inquiry

© | Exim India. All rights Reserved.