The United States wants to withdraw relevant Chinese operators from the Panama Canal port
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US Ambassador to Panama Kevin Cabrera recently said it would withdraw operators associated with China from the main ports of the Panama Canal.
On August 8, the Financial Times reported that COSCO Shipping Group is seeking to hold at least 20% to 30% of its shares in the sale of overseas port assets in Cheung Kong. The report quoted sources as saying that after the expiration of exclusive negotiations with BlackRock and Mediterranean Shipping (MSC), COSCO Shipping Group requested a large number of shares. According to one of the options under discussion, COSCO Shipping Group will acquire shares in 41 ports, but does not include 2 Panama Canal ports.
Cheung Kong announced earlier that it plans to invite major strategic investors in mainland China to join and become an important member of the buyer's consortium. The report quoted two sources as saying that COSCO Shipping Group is the only Chinese company approved to participate in the negotiations, which gives it a huge bargaining chip in the negotiations, as BlackRock and Mediterranean Shipping need a Chinese partner to get the transaction approved by relevant departments.
US President Trump has repeatedly stated that he would take back the Panama Canal and said that China is operating the Panama Canal. Cabrella criticized Cheung Hokkien's Panama Canal Company and said it was pleased that Hutchison Ports will no longer operate these ports soon and that any new operator should be a company that is reliable and committed to supporting the Panama people.
A spokesman for the Panama Canal Authority said in an interview that this is a Panama Canal and is completely operated by the Panamanians. A Hong Kong-based Chinese company operates two ports at the entrance to the Pacific and Atlantic Canals, but the company operates hundreds of ports around the world. In view of Trump's threat, I believe we are about to see a U.S. company acquire the management of these ports from this Chinese company. However, the management of these ports does not involve ships passing through the Panama Canal, which focuses on logistics before and after the ship passes through the canal.
