Twist in Hutchison ports deal as Italian shipping family's role surfaces
A deal by Hong Kong-based CK Hutchison Holdings to sell all its overseas ports to a consortium led by US firm BlackRock has taken a fresh twist, with the revelation that the new majority shareholder will not be American, but a low profile Italian-Swiss family with ambitions to control global shipping.
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Sources told the Post that the Aponte family was the mysterious driving force behind the Mediterranean Shipping Company (MSC) that aimed to solidify its dominance at sea and continue the consolidation of container shipping with the US$23 billion deal to acquire a majority stake in CK Hutchison's overseas port operations.
The family business owns the world's largest container line which has a 20.3 per cent market share, according to shipping data provider Alphaliner.
MSC was spearheading the strategic acquisition of 41 port terminals across 22 countries through its arm, Terminal Investment Limited (TiL), in partnership with investment giant BlackRock, a source said. This move signals the family's aggressive ambition to control critical infrastructure underpinning global trade.
The deal, announced earlier this year, will see the BlackRock-led consortium take an 80 per cent stake in CK Hutchison's port assets outside its home base. This massive portfolio includes major hubs in Europe, Asia and the Americas, positioning MSC as potentially the world's largest container terminal operator.
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For the Aponte family, this move represents a significant leap in its strategy of vertical integration, or ship to port operations. By establishing TiL in 2000, the family aimed to secure reliable berthing and terminal capacity for MSC's burgeoning fleet, according to the company.
This latest acquisition dramatically expands that control, ensuring smooth operations and potentially lower costs for the shipping business.
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