China could block sale of port terminals: Report
Hutchison said in March it planned to sell its 80% share of port terminals through subsidiary Hutchison Port Holdings at 43 ports in 23 countries for $22.8 billion.
The company is controlled by billionaire Li Ka-shing.
The prospective sale would include terminals near the Panama Canal, the waterway President Donald Trump said is a strategic priority for the United States.
Based in Geneva, MSC is the world's largest container shipping line, with more than 800 ships and capacity of 5.6 million twenty foot equivalent units (TEUs).
The newspaper reported that BlackRock, MSC and Hutchison are amenable to a Cosco stake.
Hutchison, BlackRock, and MSC did not immediately respond to requests for comment. Messages left for the White House and Chinese media office were not immediately returned.
The report added an agreement is not expected before a July 27 deadline for exclusive talks among BlackRock, MSC and Hutchison, the report added.
Find more articles by Stuart Chirls here.Amid uncertainty, sliding Asia-US container rates are a sure thing
Report: White House maritime chief leaving
Ports back bill to limit Customs charging for inspection services
FMC investigating Port Houston pacts with container carriers
The post China could block sale of port terminals: Report appeared first on FreightWaves.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
18 minutes ago
- Bloomberg
Korean Conglomerate Hanwha Shipping Orders First US LNG Carrier
Hanwha Shipping, the American subsidiary of Hanwha Ocean, ordered a liquefied natural gas vessel from its affiliate Hanwha Philly Shipyard, marking the first US LNG ordered ship since the late 1970s, the company said. The vessel would cost at least $250 million, plus additional considerations depending on the final contract details between Philly Shipyard and Hanwha Ocean, Ryan Lynch, president and chief executive officer of Hanwha Shipping, said in an interview with Bloomberg News on Monday.
Yahoo
29 minutes ago
- Yahoo
UBS Trims P&G (PG) Price Target, Maintains Buy Rating
The Procter & Gamble Company (NYSE:PG) is one of the most profitable consumer stocks to buy now. UBS analyst Peter Grom lowered his price target on The Procter & Gamble Company (NYSE:PG) to $180 from $186 while maintaining a Buy rating, citing refined estimates ahead of the company's fiscal fourth-quarter results. Despite the downward adjustment, the revised target still implies an upside of about 16% from the current price of $155. Copyright: jetcityimage / 123RF Stock Photo The move reflects a more tempered near-term view rather than a shift in long-term confidence. UBS continues to see strength in P&G's brand portfolio, which spans core categories like fabric care, grooming, and personal health. Grom noted that while foreign exchange pressures and consumer trade-down behavior are worth watching, the company's pricing power and cost discipline remain key pillars of its strategy. P&G has held up well in a mixed consumer environment, benefiting from its exposure to everyday essentials and global scale. The company's ability to maintain share across several categories, even amid softer volumes, has kept investor sentiment generally positive. As earnings season approaches, analysts will be looking for commentary on volume recovery and input costs, particularly as inflation eases in certain regions. The new target reflects modest caution without undermining the firm's broader bullish stance on P&G's market positioning. While we acknowledge the potential of PG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: Top 10 Healthcare AI Stocks to Buy According to Hedge Funds and 10 Best Industrial Automation Stocks to Buy for the Next Decade Disclosure: None.
Yahoo
an hour ago
- Yahoo
NIO Inc. (NIO) Outpaces Stock Market Gains: What You Should Know
In the latest close session, NIO Inc. (NIO) was up +2.96% at $4.52. The stock's performance was ahead of the S&P 500's daily gain of 0.14%. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 0.38%. The company's shares have seen an increase of 28.74% over the last month, surpassing the Auto-Tires-Trucks sector's gain of 3.89% and the S&P 500's gain of 5.35%. The investment community will be paying close attention to the earnings performance of NIO Inc. in its upcoming release. The company is predicted to post an EPS of -$0.3, indicating a 11.76% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.76 billion, indicating a 14.78% upward movement from the same quarter last year. Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$1.04 per share and revenue of $13.66 billion, indicating changes of +31.13% and +49.61%, respectively, compared to the previous year. It is also important to note the recent changes to analyst estimates for NIO Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.24% lower within the past month. NIO Inc. presently features a Zacks Rank of #3 (Hold). The Automotive - Foreign industry is part of the Auto-Tires-Trucks sector. Currently, this industry holds a Zacks Industry Rank of 226, positioning it in the bottom 9% of all 250+ industries. The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to follow all of these stock-moving metrics, and many more, on Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report NIO Inc. (NIO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
