BlackRock Secures Majority Ownership Of Ports Flanking The Panama Canal

Amidst pressure from Trump…

A consortium led by BlackRock Inc. has agreed to acquire an 80% stake in Hutchison Ports Group from Hong Kong’s CK Hutchison Holdings for $22.8 billion to American corporate ownership.

The deal includes a 90% stake in Panama Ports Company, which operates the Atlantic and Pacific ports of Balboa and Cristóbal—strategic chokepoints that handle container transshipments, refueling and maintenance equipment essential for canal operations. While not directly controlling canal passage, these ports regulate traffic flow and safeguard against disruptions, making them critical to international commerce.

The move aligns with the Trump administration’s push to increase U.S. authority over the Panama Canal, countering Chinese influence in the region. The acquisition also expands BlackRock’s global infrastructure arm, Global Infrastructure Partners (GIP), securing controlling interests in 43 other ports across 23 countries.

GIP manages a diverse global portfolio that encompasses energy, transportation, waste and water infrastructure. Key assets include London Gatwick Airport, U.S. natural gas pipelines and cutting-edge data centers.

With growing concerns over foreign control—particularly Chinese—of strategic maritime assets, this deal bolsters U.S. national security interests and strengthens America’s foothold in one of the world’s most critical trade corridors.

As The Wall Street Journal reports:

BlackRock has briefed the Trump administration and Congress on the deal, said a person familiar with the matter.

“China is operating the Panama Canal, and we didn’t give it to China,” Trump said in his inaugural address, referring to the 1977 treaty that handed control of it to Panama.

One fear is that China could convert the busy port terminals for military use. Panamanian officials, and several former U.S. military officials, have said that the Chinese facilities didn’t represent a military threat or breach the canal’s neutrality.

The U.S. built the Panama Canal, which opened in 1914, and relinquished it to Panama in late 1999 under a treaty negotiated more than 20 years earlier with then-President Jimmy Carter. Trump has long said the deal was bad for the U.S. and has complained about the fees Panama charges and Chinese infrastructure built up along the waterway.

President Donald Trump has long criticized the Carter administration’s decision to transfer control of the Panama Canal to Panama.

In December 2024, then President-elect Trump called the 1977 Torrijos-Carter Treaties—which led to the canal’s transfer in 1999—a “big mistake.” He warned that the canal was “falling into the wrong hands,” referencing concerns over Chinese influence in the region.

Additionally, Trump has voiced concerns about increased transit fees imposed by Panama, describing them as “exorbitant” and suggesting they violate the original treaties.

Overall, this strategic investment highlights a concerted effort to enhance U.S. control over key global trade routes, ensuring the security and efficiency of essential maritime infrastructure.​

This is a breaking news story. Please check back for updates.

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