Pins matching tag:Ports

On 4 March 2025 CK Hutchison announced an agreement in principle to sell its ports, including the Balboa and Cristobal terminals at the ends of the Panama Canal, to a BlackRock and MSC-linked consortium. The deal was valued at 22.8 billion dollars.

Panama's Supreme Court ruled on 29 January 2026 that the concession held by CK Hutchison's Panama Ports Company at Balboa and Cristobal was unconstitutional. The decision clouded the 23 billion dollar BlackRock and MSC ports sale.

On 23 February 2026 Panama's government annulled CK Hutchison's port contracts and took control of the Balboa and Cristobal terminals, with Maersk's APM Terminals and MSC running them in the interim. Hutchison called the decree unlawful.

India's first offshore port built on reclaimed land off Vadhavan, with a 20 m draft deep enough for 233,000 DWT container ships, is being built by Vadhavan Port Project Limited, a company of the Jawaharlal Nehru Port Authority (74 per cent) and the Maharashtra Maritime Board. The 76,220 crore rupee port broke ground on 30 August 2024 and its first phase is to handle 6.85 million TEUs by 2030.