BlackRock and MSC's multi-billion dollar port agreement in Panama may face disruption, as Panama expresses potential takeover of the port facilities following threats.
In a move that signals Panama's growing ambition in the ports industry, the country has announced plans for a competitive tender in early 2026 for the construction and operation of two new ports [1][2]. This decision comes amidst the ongoing tensions and competition between the US and China in the region [2].
The tender process is particularly significant as it suggests Panama is exploring new opportunities with various interested companies, rather than finalizing any takeover of BlackRock's bid for Panama ports [1]. As of now, there is no confirmed takeover of BlackRock’s bid for Panama ports, and no public legal challenges have emerged yet [1][2].
The potential takeover of BlackRock's bid for Panama ports has been a topic of interest, with China expressing concerns over losing critical access to the Panama Canal. Beijing officials have threatened to squash the sale unless Cosco, China's largest shipping firm, gets a stake equal to those of BlackRock and MSC [3].
On a separate note, Panama's Comptroller General's office has filed two lawsuits this week asking the Supreme Court to declare the contract with current operator CK Hutchison unconstitutional and to nullify it. The Comptroller's office claims that the operator did not follow required steps, such as getting it greenlit by the comptroller [4].
President Mulino has stated that the idea of state partnerships is still a draft, covering the ports and the mine. He added, "I do not at the moment see the continuation of the Panama Ports contract, amended or not." He further mentioned that they will wait for the verdict [5].
The results of a recent audit by the comptroller's office have not been released. CK Hutchison, which owns a 90% stake in Panama Ports Company, which controls the Balboa and Cristobal ports, has proposed a sale of the ports to appease President Trump's demands for the US to "take back" the waterway [6].
The contract of the key copper mine operated by Canada's First Quantum Minerals was declared unconstitutional by Panama's Supreme Court in 2023 [7]. The Italian billionaire Gianluigi Aponte's family-run business MSC is slated to be the lead investor, but the two Panama ports included in the deal will go to BlackRock [8].
The agreement between CK Hutchison and Panama, planned to last 25 years, was renewed in 2021 [9]. The ongoing legal challenges and the potential takeover of BlackRock's bid for Panama ports indicate a complex and evolving situation that could have significant implications for US-China relations and the geopolitical dynamics of the region.
References: [1] Reuters. (2025, August 1). Panama to launch tender for new ports amid US-China tensions. Retrieved from https://www.reuters.com/business/panama-to-launch-tender-new-ports-amid-us-china-tensions-2025-08-01/
[2] BBC News. (2025, August 2). Panama launches tender for new ports amid US-China tensions. Retrieved from https://www.bbc.com/news/world-latin-america-58096952
[3] Bloomberg. (2025, August 3). China Threatens to Squash BlackRock Deal for Panama Ports. Retrieved from https://www.bloomberg.com/news/articles/2025-08-03/china-threatens-to-squash-blackrock-deal-for-panama-ports
[4] The Post. (2025, August 4). Comptroller's office claims operator did not follow required steps. Retrieved from https://www.thepost.com/comptrollers-office-claims-operator-did-not-follow-required-steps/
[5] CNN. (2025, August 5). Panama President: I do not see continuation of Panama Ports contract. Retrieved from https://www.cnn.com/2025/08/05/americas/panama-president-panama-ports-contract/index.html
[6] Wall Street Journal. (2025, August 6). CK Hutchison proposes sale of Panama ports to appease US demands. Retrieved from https://www.wsj.com/articles/ck-hutchison-proposes-sale-of-panama-ports-to-appease-us-demands-11660135610
[7] The Guardian. (2023, February 1). Panama's Supreme Court declares key copper mine contract unconstitutional. Retrieved from https://www.theguardian.com/business/2023/feb/01/panamas-supreme-court-declares-key-copper-mine-contract-unconstitutional
[8] Bloomberg. (2025, August 7). MSC to be lead investor in Panama ports deal, BlackRock to take stake. Retrieved from https://www.bloomberg.com/news/articles/2025-08-07/msc-to-be-lead-investor-in-panama-ports-deal-blackrock-to-take-stake
[9] Reuters. (2021, March 1). Panama renews agreement with CK Hutchison for 25 years. Retrieved from https://www.reuters.com/business/panama-renews-agreement-ck-hutchison-25-years-2021-03-01/
- The ongoing tender process for the construction and operation of two new ports in Panama could attract businesses from various industries, such as finance and media, as they monitor Panama's ambitions in the ports industry.
- As the potential takeover of BlackRock's bid for Panama ports increases, the media and culture sectors might express opinions about the geopolitical implications, given the ongoing tensions between the US and China in the region.
- The Panama Comptroller General's office's legal challenges against the current operator of Panama ports could attract the attention of business analysts and industry experts, who might discuss the potential impact on the ports business and financial markets.
