China threatens to block Panama Canal ports deal – want part ownership | Forexlive

The Wall Street Journal had the story, gated.

In summary:

Beijing is threatening to block the proposed $23 billion sale of more than 40 international seaports to BlackRock and Mediterranean Shipping Co. (MSC) unless Chinese state-owned shipping giant Cosco is given a stake in the deal. The ports, currently owned by Hong Kong-based CK Hutchison, include two strategic locations at the Panama Canal.

• People familiar with the negotiations say China wants Cosco to be brought in as an equal partner alongside BlackRock and MSC.

The pressure underscores China’s desire to maintain influence over key global infrastructure assets, particularly as Western investors expand their control of critical maritime hubs. BlackRock and MSC reached a preliminary agreement to acquire the ports in March, but growing political and strategic tensions now threaten to delay or derail the transaction.

Cosco (China Ocean Shipping Company) is China’s largest state-owned shipping enterprise and one of the world’s biggest container and logistics firms. It operates a vast global network of ports, vessels, and terminals, and plays a key role in Beijing’s maritime strategy, including the Belt and Road Initiative.

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