By Zoila Palma: China is emerging as one of the leading contenders to bid on the construction of two new ports along the Panama Canal, according to canal administrator Ricaurte Vásquez.
The announcement comes amid heightened geopolitical tensions, including recent remarks by U.S. President Donald Trump suggesting the United States could “retake control” of the vital trade route.
Although Hong Kong–based CK Hutchison Holdings currently operates ports at both ends of the canal, an agreement to transfer control to a conglomerate led by U.S.-based BlackRock remains pending.
Panama is seeking to attract roughly $8.5 billion in investment over the next decade, with the expansion of port capacity, a gas pipeline, and a new reservoir forming part of a sweeping infrastructure plan, AFP reports.
Vásquez emphasized that all interested parties — including Chinese companies — will compete on equal terms, adding that the Panama Canal Authority has already begun preliminary meetings with potential bidders.
Contracts for the two new terminals are expected to be awarded in late 2026, with operations slated to begin in 2029.
Several major international players have expressed interest, including Hong Kong’s Cosco Shipping Ports, Orient Overseas Container Line (OOCL), Singapore’s PSA International, Taiwan’s Evergreen, Germany’s Hapag Lloyd, Denmark’s Maersk, and France’s CMA Terminals.
The Panama Canal, which spans 80 kilometers and handles about five percent of global maritime trade, remains a strategic passage for both the United States and China.
Control of the canal was transferred from the United States to Panama at the end of 1999.
The post International News: China expected to compete for new Panama Canal Port contracts appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: China is emerging as one of the leading contenders to bid on the construction of two new ports along the Panama Canal, according to canal administrator Ricaurte Vásquez. The announcement comes amid heightened geopolitical tensions, including recent remarks by U.S. President Donald Trump suggesting the United States could “retake control” of the vital
The post International News: China expected to compete for new Panama Canal Port contracts appeared first on Belize News and Opinion on www.breakingbelizenews.com.
