US Edition
Panama Canal boss warns MSC ports deal threatens principle of neutrality
- Ricaurte Vasquez, head of the Panama Canal Authority, cautioned on Tuesday that the $23 billion transaction involving 43 ports currently managed by CK Hutchison and being acquired by a group including MSC and BlackRock could jeopardize the canal’s neutrality.
- The planned sale announced in March to MSC and BlackRock raised concerns about concentration of terminal operators and drew scrutiny from China’s market regulator and global stakeholders.
- Vasquez warned that the deal’s current structure could lead to excessive concentration, undermining Panama’s market competitiveness, and recommended that the canal authority revive its initiative to develop a terminal facility at Corozal on the canal’s Pacific side.
- Vasquez expressed concern that the current structure of the deal could lead to an excessive concentration of capacity, raising issues about the dominance of certain operators.
- The deal’s progression risks undermining the canal’s neutrality and intensifies transshipment competition, prompting infrastructure planning by Panama and oversight from U.S. and Panamanian authorities.
26 Articles
26 Articles
Observador
Correio da ManhãCK Hutchison, controlled by the Hungarian of Hong Kong Li Ka-shing, announced in March the sale of participation in 43 international ports, including two locations in the Panama Canal area
At a press conference on Wednesday, June 11, Lin Jian, spokesman for the Ministry of Foreign Affairs of China, reaffirmed the support of the Asian giant towards Panama, this in response to the comments of the head of the Panama Canal Authority (ACP) of June 10, who expressed concern about a "potential risk of concentration of capacity" if the purchase of CK Hutchison assets as structured is concrete. The director of the Panama Canal warned that …
FM responds to Panama Canal boss’s warning that ports deal threatens principle of neutrality, harms Panama’s market competitiveness
In response to a question regarding Panama Canal Authority administrator saying that planned ports sale by Hong Kong’s CK Hutchison has potential risk of capacity concentration, harm Panama’s competitiveness in the market, and could upset the canal’s principle of neutrality, and the canal’s authority denied US request for free passage of government ships through the canal, Chinese foreign ministry spokesperson Lin Jian said we have taken note of…
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources lean Right
To view factuality data please Upgrade to Premium
