Happy Thursday!
Well, we blogged on Monday on the
Panama Canal Authority and how they announced the Rio Indio Basin Project or Resolution
No. ACP-JD-RM-25-1542. Well, Panama’s canal
and its ports were in the news for a big change which will be coming soon.
Did anyone see
The Houston Chronicle’s Business Section on March 5, 2025, they
reprinted an article from the Associated Press titled, “BlackRock
Strikes Panama Canal deal giving U.S. control”?
In the article, it speaks on how the international company of CK
Hutchingson Holdings has accepted an offer from the BlackRock group to purchase
the controlling interest from Hutchingson Port Holdings and Hutchingson Port
Group Holdings who manages 43 ports in 23 countries, including Panama’s ports
of Balboa and Christobal, as well as ports in Mexico, the Netherlands, Egypt,
Australia, Pakistan, and so on. The BlackRock
group includes BlackRock, Inc as well as BlackRock ancillary Global Infrastructure
Partners and Terminal Investment Limited.
The BlackRock group will pay almost $23 billion and $5 billion in debt for
the control over 43 ports. The deal will need the consent from Panamanian government. Hutchingson Ports had been given a no-bid extension
contract for a 25-years to manage the ports, nonetheless the contract was being
reviewed since the accusations from the U.S.
If we hear any other news which
effects the Panama Canal or its Ports, we will surely post the information. If you would like to read more of Associated
Press’ article for free on msn, please click the link: BlackRock strikes deal to bring ports on both sides of Panama Canal under Americancontrol.
If you would
like help in looking into how to update your terminal and docks, contact us via
email in the Blog and check out ESC's website for contact
information!
It’s Day 3 of
the Houston Livestock and Rodeo.
If you’re interested in going to this world class event or you want to
see the performers’ line-up for this season; please click the link for
information: The Official Houston Livestock Show and Rodeo Website.
We hope you have a wonderful evening and a great week!
**Disclaimer: You may be charged a fee to read the Associated
Press’ article. **