The American investment company Blackrock wants to take over two ports near the Panama Canal, but is facing resistance from the Chinese state. This is to the displeasure of American politics, which wants the deal to go through. The possible takeover also has consequences for the Netherlands.
President Donald Trump wants the Panama Canal, which was once built by Americans, to be back in the hands of the US. A takeover by Blackrock would partly fulfill that wish. When the news of the takeover came out earlier this year, the president claimed this as a victory. But the battle does not seem to be over yet.
The current owner of the ports is CK Hutchison, an operator of ports and terminals from Hong Kong, which falls under China. And the rulers in Beijing are not happy with the plans.
The Chinese government is now obstructing. Beijing will only give approval if its own state shipping company Cosco is also involved in the deal, the American business newspaper Wall Street Journal reports, citing sources.
That intention can count on little understanding from the Americans. A Republican Congressman has now sent a letter to the Panamanian government. In it, he states that it is an unacceptable risk to the national security of both Panama and the US if Cosco or another Chinese company plays a role in the management of the ports.
Question of how much influence the US actually has
If the deal goes through in its original form, the question is still how much influence the Americans actually have on the policy of the Panama Canal. The management of the canal is not in the hands of the two ports, but of the Panama Canal Authority, a Panamanian government body that is not part of the deal.
In addition, Blackrock would only partially get the two ports, because the Italian-Swiss shipping company MSC is also involved in the transaction, which has a value of 22.8 billion dollars (19.5 billion euros).
The squabbling around the possible takeover may also have consequences for the Netherlands. CK Hutchison has previously indicated that it wants to sell its interests outside China. This also includes three large container terminals in the port of Rotterdam, as well as terminals in Venlo, Amsterdam and Moerdijk.