by Lloyd's List
28 August 2025 (Lloyd's List) - EXECUTIVES at Cosco Shipping Ports declined to comment on the still-unresolved sale of CK Hutchison’s port assets, but said the company would press ahead with its overseas expansion.
Negotiations over the transaction have been extended. The Hong Kong-listed seller said last month that a Chinese investor was being invited to join the buyer consortium, with CSP’s state-owned parent widely reported as the prospective participant.
At a press conference today, however, CSP’s management remained tight-lipped. “We have no comment,” said managing director Wu Yu.
Wu acknowledged that the company faces challenges in overseas investment amid heightened geopolitical uncertainty but stressed there are also opportunities.
CSP would focus on markets in Southeast Asia, Latin America and Africa, where economic and trade growth was expected to remain strong in the foreseeable future, she said.
“While China’s exports to the US are declining, shipments to emerging markets are showing a clear upward trend,” Wu added.
Chinese customs data shows that in the first seven months of this year, exports to the US fell 12.6% year on year in dollar terms, while those to ASEAN countries rose 13.5%, with exports to Vietnam, Thailand and Cambodia all climbing more than 20%. Exports to Africa increased by nearly 25%.
CSP announced last October that it would acquire minority stakes in two operators at Thailand’s Laem Chabang — 12.5% of Thai Laemchabang Terminal and 30% of Hutchison Laemchabang Terminal — for about $110m. Wu said the deal was expected to close next month.
By contrast, CK Hutchison’s sale covers more than 40 facilities across Europe, the Middle East, Africa, Southeast Asia and Latin America, assets previously valued at about $2.3bn.
Acquiring such terminals would not only significantly broaden CSP’s global network but also help safeguard China’s supply chain security, in line with Beijing’s mandate.
A stake in the portfolio could also potentially strengthen Cosco Shipping’s partnership with another major bidder — Mediterranean Shipping Co — the world’s largest container line.
CSP chief accountant Zhao Fengnian said the company’s strong cash position and low leverage give it ample capacity for acquisitions but noted that port assets have become overpriced as carriers competed aggressively to invest.
He declined to comment on whether CSP could participate in a multibillion-dollar deal, nevertheless.
As of the end of June, CSP held $1.3bn in cash and bank balances, with a net debt-to-equity ratio below 30%.
Growth in throughput and profitability at overseas terminals, particularly in the Mediterranean and the Middle East, lifted CSP’s net profit by 30.6% year on year in the first half of 2025 to $181.8m. Total throughput rose 6.4% to 74.3m teu.
