CK Hutchison’s planned $23 billion sale of 43 ports worldwide is in jeopardy after China’s state-owned Cosco demanded a controlling stake in the buying consortium. 

The deal, announced in March 2025, includes terminals in 23 countries, notably Panama’s Balboa and Cristóbal ports, where CK Hutchison holds a 90% share.

Originally, Cosco was expected to take a minority position, but its push for majority control has prompted BlackRock and MSC to reconsider their involvement. Earlier proposals to exclude Panama Canal terminals remain unresolved, adding to the uncertainty.

The European Commission is also reviewing a separate MSC-BlackRock transaction at Barcelona’s port for competition concerns. 

With negotiations stalled and strategic disagreements mounting, the future of CK Hutchison’s global port sale hangs in the balance.