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Bond Market News
CK Hutch Explores Adding COSCO into Consortium Bidding for Ports Business
July 28, 2025
CK Hutchison is said to be exploring adding state-owned China Cosco Shipping (COSCO) into the consortium bidding to acquire its $22.8bn ports business, as per sources. The proposed transaction would transfer operations of 43 ports across 23 countries, including strategic terminals near the Panama Canal to a group led by BlackRock and MSC’s Terminal Investment Limited. COSCO is reportedly seeking veto rights within the consortium to safeguard Chinese national interests. Exclusive negotiation rights between CK Hutchison and the BlackRock-MSC group were originally set to expire on July 27, but may be extended. US politicians, including President Trump, have framed the sale, especially the Panama assets as part of a national-security effort to counter China’s influence in major waterways. Meanwhile, Chinese regulators and state media have strongly criticized the deal, warning against attempts to evade antitrust review and suggesting that excluding COSCO might provoke official pushback.
CK Hutch’s dollar bonds were trading stable with its 4.375% 2030s at 99.3, yielding 4.54%
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