MSC Set to Become World’s Largest Terminal Operator in $22.8 Billion Hutchison Deal
In a landmark transaction, Mediterranean Shipping Company (MSC) is set to claim the title of the world’s largest container terminal operator following a $22.8 billion deal involving CK Hutchison. The agreement, announced on Tuesday, sees the Hong Kong-based group selling its 80% stake in Hutchison Ports Holding to a BlackRock-TiL consortium. The move solidifies MSC’s dominance as the largest ocean carrier and propels it to the top of the global terminal operator rankings, according to Drewry’s analysis.
This deal marks the biggest acquisition ever in the container terminal sector, unfolding amid concerns over Chinese influence in strategic maritime infrastructure. The transaction includes the sale of Hutchison’s 90% stake in Panama Ports Company, which controls the Balboa and Cristobal ports—key access points on opposite ends of the Panama Canal.
Since December, former U.S. President Donald Trump has been vocal about alleged Chinese influence over Panama Canal operations, accusing authorities of discriminating against U.S. interests. His remarks have been firmly rejected by Panamanian officials.
“My administration will be reclaiming the Panama Canal, and we’ve already started,” Trump stated during a joint session of Congress. “Just today, a major American company (BlackRock) announced they are buying both ports near the Panama Canal and other critical assets.”
According to Drewry’s Global Terminal Operator (GTO) rankings, Hutchison Ports operates 43 maritime container terminals outside China and Hong Kong, with a total capacity exceeding 73 million TEU and nearly 47 million TEU in throughput as of 2023.
Meanwhile, MSC’s existing portfolio—which includes a 70% stake in Terminal Investment Limited (TiL), full ownership of Africa Global Logistics, and control over multiple Italian terminals through Marinvest—handled more than 70 million TEU in 2023.
“This deal will catapult MSC ahead of other global terminal operators, securing a truly global container terminal network,” said Eleanor Hadland, Drewry’s Lead Analyst for Ports and Terminals.
However, the deal faces regulatory scrutiny. Key areas of concern include Panama, where TiL already has a strong presence, Rotterdam, where competition in Northwest Europe may be impacted, and Spain, where both companies hold significant stakes.
Drewry also notes that the acquisition builds on MSC’s longstanding relationship with Global Infrastructure Partners (GIP), now owned by BlackRock. GIP, which initially acquired a 35% stake in TiL in 2013 (currently at 20%), has been instrumental in TiL’s expansion.
“This is a major victory for MSC, securing additional capacity in key markets,” Hadland concluded. “However, the regulatory review could take at least a year, with authorities closely examining the impact on Northwest Europe, Spain, and Panama.”
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