The signal didn’t come from the market, but from the government.

In recent weeks, Chinese officials have held direct meetings with executives from Maersk and Mediterranean Shipping Company (MSC) to review their role in international shipping and, in particular, their involvement in strategic port infrastructure. While no detailed statements have been released, the meetings—reported by Platform Media and AAStocks— mark a turning point: Beijing is moving from observation to intervention.

The tone also hardened.

According to information published on April 15 by Reuters , citing the Financial Times , Chinese officials have asked both shipping companies to refrain from participating in operations that affect the interests of Chinese companies, in a direct reference to their role in Panama Canal ports. This warning places Maersk and MSC in an unprecedented position: private operators under explicit political pressure from a global power.

The background of these conversations points to Panama, but not as an isolated event, but as the result of a sequence that altered the balance of control in one of the most important logistics hubs in the world.

In early 2026, the Supreme Court of Panama annulled the concession held by CK Hutchison —through Panama Ports Company —for the Balboa and Cristóbal terminals , after years of legal challenges and audits. The decision led to direct intervention by the Panamanian state, which assumed operational control of the ports through an occupation decree to ensure the continuity of operations.

It was at that point that Maersk and MSC entered the picture .

Far from being a direct purchase, the Panamanian government opted for a transition scheme: it assigned provisional operating licenses – of up to 18 months – to APM Terminals (Maersk’s port arm) for Balboa, on the Pacific, and to Terminal Investment Limited (TIL) , linked to MSC, for Cristóbal, on the Atlantic.

The move resolved the immediate operation, but opened a larger front.

Prior to the contract’s annulment, CK Hutchison had already begun the process of selling part of its global port portfolio —including assets in Panama— to a consortium that included Western investors and MSC itself. The court intervention not only halted this process but, paradoxically, ended up placing one of the potential buyers as the temporary operator of the assets.

From Beijing, the interpretation was different.

For years, China has built a global logistics network of influence in which ports play a central role. Hutchison’s forced departure from Panama —and the entry of operators linked to Western capital—is interpreted as a strategic shift in a region crucial for international trade.

In that context, the meetings with Maersk and MSC take on a different meaning: they are not technical reviews, but political signals.

The episode also reflects a broader shift in the industry. Major shipping companies have evolved into integrated infrastructure operators, capable of influencing routes, costs, and trade flows. This transformation puts them on the radar of governments as actors with implications beyond mere business.

This is compounded by a highly volatile environment. China has expressed concern about rising maritime tariffs and disruptions to global shipping routes, particularly given the tensions in the Middle East, according to the Financial Times. In this context, control of ports and supply chains takes on even greater strategic importance.

What’s happening between China, Maersk, and MSC, therefore, goes beyond the corporate sphere. It’s a dispute over who defines the rules—and controls the hubs—of global trade. And on this playing field, shipping companies no longer just transport goods. They also wield geopolitical pressure.

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El cargo China calls on shipping companies: pressure on Maersk and MSC escalates over control of strategic ports apareció primero en T21.

For Panama, the Isthmus of Tehuantepec Interoceanic Corridor (CIIT) and the Panama Canal are complementary, with different functions and capabilities, so authorities are working to develop a common vision on these issues.

“They are complementary industries. The business model and technical basis for the Panama Canal are different from how the Interoceanic Corridor and the Isthmus of Tehuantepec will operate, which are not maritime. The cargo capacity and timescales are different,” said Abraham Martínez, Panama’s ambassador to Mexico.

The Panama Canal is 80 kilometers (km) long, allowing a ship to cross without transshipment, and the CIIT has more than 300 km of rail or truck access, he explained in an interview with T21.

However, he mentioned that they are working with the relevant authorities to achieve a common vision on this issue. “We are united by both the Pacific and Atlantic oceans, and our cargo capacity through the former can facilitate all cargo leaving Mexico via that route, including Salina Cruz, Mazatlán, Lázaro Cárdenas, and the entire Pacific coast of Panama, Central America, and the South. This means that we don’t see any issues of conflict or competition.”

The CIIT was one of the flagship projects of the previous administration headed by Andrés Manuel López Obrador , which includes the expansion of the ports of Salina Cruz, Oaxaca, and Coatzacoalcos, Veracruz, as well as the modernization of the existing freight train lines that connect the Pacific Ocean with the Gulf of Mexico, to boost trade.

Regarding the problems caused by the drought in Panama Canal operations, which reduced transit and cargo transport, the ambassador commented that a project already exists to address this challenge , as well as the expansion of two ports that would allow the operation of more than three thousand additional vessels per month.

“Provisions are being made for the development of infrastructure that would guarantee the functioning of the Panama Canal and for the population, as well as for the Indio River reservoir project, which involves an investment of more than $300 million to raise the levels of Gatún Lake and provide the capacity for electricity generation and agriculture,” he explained.

According to information from the Panama Canal Authority (ACP) , the project includes the construction of a roller-compacted concrete dam , with operating levels ranging from 40 to 80 meters above sea level. The design includes a nine-kilometer, five-meter-diameter tunnel that will transport water by gravity, without the need for pumping or electricity, directly to Gatun Lake.

This project is the result of more than three decades of technical studies on the water potential of the Indio River basin. With a projected surface area of 4,600 hectares—representing 8% of the river’s total basin area—the lake also represents a concrete opportunity for the region’s economic recovery.

Regarding the new ports, Abraham Martínez said they should be ready in the next two or three years.

“We now have a deficit of a thousand vessels that we can’t handle on a monthly basis, and that’s why we’re planning to build two new ports to meet that demand efficiently and with additional capacity. The drought was a temporary issue,” he said.

Bilateral meeting

Martínez announced that a bilateral meeting will be held in the coming weeks between Carlos Arturo Hoyos Boyd, Panama’s Deputy Minister of Foreign Affairs, and Raquel Serur Smeke, Undersecretary for Latin America and the Caribbean at Mexico’s Ministry of Foreign Affairs (SRE) , to continue the political dialogue.

In addition, a meeting will be held in Panama with several business leaders, industrialists, merchants, among others .

“We are at an excellent moment. We have a very strong relationship between the two countries in various areas, not only in academic work and research, but also in the commercial arena, from the perspective of technology, agricultural sciences, and agricultural parks. We have had visits from ministers of state to Mexico, a minister of trade, three visits from the Minister of Foreign Affairs, and more are coming soon,” he stated.

Martínez stated that the bilateral agenda is currently fluid, with important and strategic issues such as technology and science, “there is a level of connectivity like we’ve never had before.” He emphasized that in terms of air travel, there are 180 flights between the two countries, as well as connections to other destinations.

He commented that, given the United States’ tariff policy, “it’s important for them to view Panama as a hub for trade growth to the south. We are members of Mercosur, we have a logistics hub , a free trade zone, and it’s time for Mexican businesses to look south.”

He emphasized that Latin America represents a market of more than 600 million people; Colombia, Ecuador, and Central America alone represent more than 100 million people, representing a significant volume for trade.

“Latin American integration is becoming a reality every day; economic dynamics are showing us the way,” he said.

Regarding the trade balance, he said it is currently “highly deficient for Panama” and $60 million in favor of Mexico, given low imports. On the other hand, the country has a strong presence, mainly in Mexican construction companies that have carried out various projects.

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LIMA, PE.- Panama is the fifth country with the highest rainfall levels in the world. Fresh water is one of the most valuable assets for the functioning of the Panama Canal , considered a “logistical marvel,” which has been in operation for 110 years. But the 2023 drought, which lasted until 2024 and affected ship transit due to low levels of this water resource in Gatun Lake, the main water supplier for the canal, put the Panamanian government on alert.

The good news for global supply chains, and even for the environment, is that actions are being taken to try to reduce the future impacts of climate change. Because they will happen, and they will be more constant.

The importance of the canal to the Panamanian people is indisputable. In fiscal year 2024, it generated revenue of $4.998 billion for a total of 11,240 transits, a figure lower than the peaks of more than 14,000 transits recorded in previous years. It also creates jobs for 8,600 people and many more indirectly.

Without the canal – 82 kilometers of waterway that connects the Pacific and Atlantic Oceans – shipping lines would have to add more nautical miles to transport goods and also consume more fuel , a situation comparable to what happened with the recent attacks on vessels in the Red Sea, which caused the diversion of maritime routes between Asia and Europe, mainly, by not being able to pass through the Suez Canal to reach the Mediterranean.

The canal’s operation is simple, but complex to operate. Upon reaching either end of the canal, ships must ascend 26 meters (m) above sea level using a system of locks that act as aquatic stairs. Once they reach this height, they simply navigate to the other end and repeat this action in reverse. Each transit discharges between 191,000 and 202,000 cubic meters of fresh water into the sea.

The cost of passing through the canal varies depending on the type, size, and cargo carried by vessels. The highest rates apply to Neopanamax vessels, with rates ranging from $400,000 to $800,000.

“We are actually a pretty expensive toll booth,” said Estela del Carmen Luck Archbold, Sustainability Manager for the Panama Canal, during her participation in the panel “ Success Stories in Sustainability and Decarbonization of Port Operations ” at the AAPA LATAM 2025 Congress .

Panama has owned the canal since 2000, when it was transferred to its administration by the United States government, its original builder. Until a few years ago, there were only three sets of locks, but in July 2016, two new Neopanamax locks were inaugurated , which feature basin systems for water reuse. These locks measure 427 m long, 55 m wide, and 18 m deep, allowing for the passage of larger ships.

Another major source of water supply for the canal is Lake Alhajuela, which, like Gatún, was built as a water reservoir and also operates one of the two hydroelectric plants managed by the Panama Canal Authority (ACP) . Both artificial lakes are responsible for leveling the depth of the channel .

However, the ravages of climate change around the world are affecting the operation of the Panama Canal. “Before, there was a severe drought every 18 or 20 years, then it was every eight, and now it’s every four… we have to prepare ourselves to survive and resist,” according to the canal’s sustainability manager.

To avoid future problems due to a lack of water to supply the canal, the government is planning to dammify the Indio River in the center of the country, a project that would take about four years and require an investment of $1.6 billion . This would allow for 12 to 13 more ship crossings per day and support the construction of water treatment plants, according to authorities.

“It’s been under study for at least 10 years… it should start next year. We have social issues to address. We’re asking for a pretty big sacrifice from people who own land that could become a lake in the future,” said Luck Archbold.

While the Panamanian government addresses the social issue, which includes around two thousand families that could be affected or relocated, international trade is closely monitoring what will happen to the canal to avoid future disruptions to supply chains.

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El cargo Panama Canal vs. climate change: a lost battle? apareció primero en T21.

On March 27 of this year, Hyundai, South Korea’s largest vehicle manufacturer, became the first automaker to conduct a pilot test across the Isthmus of Tehuantepec Interoceanic Corridor (CIIT), one of the flagship projects of Andrés Manuel López Obrador’s previous administration, which Mexico’s President Claudia Sheinbaum will continue. It is being established as a logistics alternative for the transport of goods between the Pacific and Atlantic Oceans.

David Plata, Head of Finished Vehicle Logistics in Mexico at Hyundai Glovis , the South Korean automaker’s global logistics operator, explains the details of this first pilot test in an interview with T21.

The Glovis Cosmos ship sailed from South Korea to arrive first at the port of Lázaro Cárdenas where it unloaded cargo, and then headed to the port of Salina Cruz, Oaxaca, with the 900 vehicles that were unloaded and transported via the Isthmus of Tehuantepec Railway (FIT) to the port of Coatzacoalcos, Veracruz, where the RCC África ship departed on April 3 bound for the east coast of the United States.

The crossing into Mexico took six days, although Plata claims it actually took four. The delay: the ceremonies.

Following this initial logistical move, companies are reviewing efficiencies, timelines, costs, productivity, and other aspects to create a more consistent macro-operation and offer the route as an alternative to the Panama Canal.

“We are analyzing this first test together with the US team. The idea is to continue testing and for it to become a regular part of our logistics. We are in the evaluation process; the group will decide whether to continue or not, but we are working with everyone involved to make this project viable. We are reviewing the infrastructure and investment aspects, referring to greater draft, capacity and speed of trains, port space, among other things. The next test, if we do it, we would like to have a larger volume. The cost depends on the number of vehicles; the more vehicles we have, the more profitable it will be,” he explains.

Hyundai Glovis has more than 100 Ro-Ro (Roll On – Roll Off) vesselsspecialized in the transport of automobiles, with a capacity of 4,000 to 10,500 vehicles , which cross the Panama Canal weekly.

Dear reader, if you wish to continue reading this article, which appears in the May 2025 issue of T21 magazine, we invite you to review the electronic version by clicking here .

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El cargo Hyundai Glovis, CIIT’s first logistics “believer” apareció primero en T21.

Panamanian Vice Minister of Multilateral Affairs and Cooperation, Carlos Guevara Mann, asked the Organization of American States (OAS) to support his country’s sovereign rights over the Panama Canal .

During his speech at the OAS Special General Assembly in Washington, D.C., Guevara Mann said that, on the occasion of the 25th anniversary of Panama’s sole administration of the interoceanic waterway, “we resoundingly declare that the Canal is an inalienable asset of the Panamanian State and will continue to be so for the benefit of global trade and international navigation.”

The diplomat recalled that the Torrijos-Carter Treaties were deposited at the OAS, allowing for the “sovereign rights of the Panamanian State in the Panama Canal to be finally recognized, as well as the one establishing the waterway’s neutrality regime.”

“We ask the OAS to reiterate its strong and unanimous support for our sovereign rights, for which we appeal to the OAS Charter and the principles set forth above,” the official said.

According to a press release provided by the Panamanian Foreign Ministry, Guevara Mann also stated that “the OAS is called upon to respond forcefully to attempts to undermine these principles through unilateral actions that inevitably work to the detriment of less-advantaged countries, with harmful consequences for their peoples.”

The Panamanian deputy minister made these statements after Colombian Ambassador Laura Gil was elected OAS Assistant Secretary General for the 2025-2030 term, becoming the first woman to hold the position since the organization’s founding in 1948.

“This event, which we consider historic, speaks highly of the OAS and provides compelling evidence of its commitment, as well as that of its member states, to equality and the empowerment of women for the benefit of our peoples,” Guevara Mann emphasized.

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El cargo Panama asks the Organization of American States to support the sovereignty of its canal apareció primero en T21.

PSA Panama , a port terminal located on the west side of the Pacific entrance to the Panama Canal, became a key player in the logistics chain in the face of disruptions that occurred in 2023 and 2024 due to weather conditions that affected the Panama Canal’s capacity.

“We expanded our operational capabilities to facilitate land connections for up to 30% of the transshipment cargo we handle, allowing local carriers to transport up to 1,300 containers in less than 16 hours between terminals on the Pacific and Atlantic coasts,” said Diego Garcia, COO of PSA Panama, during his recent participation in Expo Logística Panamá 2025.

The executive indicated that the terminal has made strategic investmentsto improve operational and connectivity standards.

He highlighted the expansion of the Gate’s capacity for delivering and receiving containers via land by 50%, going from four to six lines, along with the implementation of a state-of-the-art OCR system, which will automatically capture truck and container data, improving traceability, reducing wait times, and strengthening process security.

One of the key initiatives highlighted by Garcia is the complete overhaul of the video surveillance system, the addition of smart cameras, a container scanner, and updated procedures, all with the goal of offering integrated logistics solutions that meet the current needs of international trade.

The PSA Panama representative emphasized the importance of continuing to invest in the digitalization of the logistics system and fostering collaboration among all stakeholders in the ecosystem.

“Multimodality is built on cooperation. Panama has all the conditions to consolidate itself as a world-class logistics platform, and achieving this depends on collaborative work between the public and private sectors, and academia,” he stated.

PSA Panama closed a historic 2024 with more than 1.4 million 20-foot containers (TEU) moved , its best annual result to date, driven by maritime connectivity that includes an average of 18 vessel calls per week.

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El cargo PSA Panama, a key player in the face of canal disruptions apareció primero en T21.

Hong Kong-based conglomerate CK Hutchison , one of the world’s leading owners of port terminals, has decided to sell a majority stake in its port companies and terminals managed by Hutchison Ports Holding (HPH) , which highlights the marketing of its assets in Panamanian ports, amid pressure from the United States over alleged Chinese influence over the Panama Canal.

In a joint statement, CK Hutchison and BlackRock – TiL announced an agreement in principle, firstly, for the acquisition of 90% of HPH’s stake in Panama Ports Company (PPC) , operator of the Balboa and Cristóbal Colón terminals in Panama.

“The PPC Transaction will be carried out separately once the Government of Panama confirms the proposed terms for the purchase and sale,” according to the statement.

The government of Donald Trump, president of the United States, has alleged that the administration of the Panama Canal has fallen into Chinese hands , which would represent a security risk in operations.

The agreement in principle also includes the sale of CK Hutchison’s effective and controlling 80% stake in subsidiaries and associates that own, operate and develop a total of 43 ports comprising 199 berths in 23 countries , including Mexico, where it has a significant stake in the country’s main ports.

The above also brings together all management resources, operations, terminal operating systems, Information Technologies and other HPH systems, and other assets related to the control and operations of those ports.

“(The agreement) does not include any interest in the HPH Trust, which operates ports in Hong Kong, Shenzhen and southern China, or any other ports in China,” according to the press release.

The value of these transactions was estimated at 22.8 billion dollars. The negotiations would take 145 days, according to the companies.

“Pending the signing of the final documents, CK Hutchison and HPH have entered into exclusive negotiation and confidentiality agreements with the BlackRock-TiL consortium, which will have full access to the information and documentation for the purposes of conducting confirmatory due diligence,” the statement said.

“This agreement is a powerful illustration of the combined BlackRock and GIP platform and our ability to deliver differentiated investments for clients. These world-class gateways facilitate global growth. Through our deep connectivity with organizations like Hutchison and MSC/TIL and governments around the world, we are increasingly the first choice for partners seeking patient, long-term capital. We are delighted that our clients can participate in this investment,” said Larry Fink, Chairman and CEO of BlackRock.

It is worth noting that CK Hutchison is a publicly traded company and has no financial ties to the Chinese government , although Hong Kong companies are subject to state supervision.

“Our relationship with Hutchison Ports goes back a long way and is one of mutual respect and friendship. Furthermore, we are very pleased to partner with BlackRock and Global Infrastructure Partners (GIP) , with whom we share a long-standing and excellent relationship. We have great respect for the management team at Hutchison Ports and, should this transaction close, we look forward to welcoming them into our extended family. We are very focused on this industry and know that the investment in Hutchison Ports will be a very commercially viable investment,” according to Diego Aponte, President of Terminal Investment Limited (TiL) and Chairman of the MSC Group .

“This transaction is the result of a fast-paced, discreet but competitive process in which numerous offers and expressions of interest were received. As a result, the valuation of the transaction agreed in principle is compelling and the transaction is clearly in the best interest of our shareholders. After making the necessary adjustments to take into account minority interests and the repayment of certain shareholder loans owed by HPH to CK Hutchison, the transaction is expected to generate cash proceeds in excess of $19 billion for our Group. I would like to highlight that the transaction is purely commercial in nature and has no bearing on the recent political news regarding the Panama ports. It should be noted, however, that the transaction remains subject to confirmatory due diligence, settlement of definitive documentation and normal and customary closing procedures, adjustments and conditions, as well as compliance by HPH with the rights of minority shareholders under existing shareholder agreements relating to the HPH interests sold,” stated Frank Sixt, Co-Managing Director of CK Hutchison.

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El cargo CK Hutchison agrees to sell port terminals to BlackRock-TiL, including Panama apareció primero en T21.

A delegation from the Latin American division of the American Association of Port Authorities (AAPA Latino) , led by its president, Juan Duarte, is currently on a working tour of the main port cities in Latin America . The most recent visit was concentrated in Panamanian territory, with representatives of PSA Panama.

Strategically located at the Pacific entrance of the Panama Canal, the terminal efficiently connects the world’s main markets , boosting global trade and positioning Panama as a world-class logistics center.

Juan Duarte expressed his satisfaction with the visit to the port and described it as enriching. Enrique Piqueras, general manager, and Any Rodríguez, commercial manager, were present on behalf of PSA Panama.

Regarding the terminal projects, Juan Duarte highlighted the development of human talent that is managed and promoted by PSA Panama. Based on their E-FISH-NCY strategy focused on continuous improvement, “they have achieved great productivity for the interior of the terminal and a positive impact on the country’s logistics chain. Their commitment to a master security plan is quite interesting, along with their digitalization and automation strategy that they are carrying out, which brings with it great productive efficiencies,” Duarte commented, quoted in a press release.

It is worth noting that the terminal has been promoting the human development of local talent for some time. Recently, PSA Panama renewed its agreement with the National Institute of Professional Training and Capacity Building for Human Development for the training of port workers. Regarding investment, the terminal has accumulated more than 600 million dollars, as well as the generation of 900 direct jobs and more than 100 indirect jobs.

Representatives of AAPA Latam presented the guidelines and strategies of the “Renacer AAPA Latinoamérica” plan , where they also indicated the opportunities for development and innovation that may arise from the collaboration between the association and the terminals.

For Duarte, this tour of Latin America is vital for the organization’s work. “We traveled to five countries on the continent, 10 cities, visited and spoke with more than 30 key authorities and port terminals in the sector. With all this networking, we also began to prepare, together with Zulma Dinelli, our AAPA Latam 2025 event, to be held next year in Lima, Peru. I can only thank the reception, the welcome of AAPA Latam’s new strategy and the desire to commit to this new way of working on the part of the main players in the industry,” he said.

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El cargo “RENACER AAPA LATINOAMÉRICA” tour arrives in Panama apareció primero en T21.