LatinNews Daily - 3 April 2025

*APM Terminals, a Netherlands-based subsidiary of Danish shipping company Maersk, has acquired the Panama Canal Railway Company (PCRC) from Canadian railway holding company Canadian Pacific Kansas City (CPKC) and the US-headquartered Lanco Group/Mi-Jack, a firm which manufactures material handling equipment. PCRC operates a 76km single-line railway adjacent to the Panama Canal that mainly facilitates cargo movement between the Atlantic and Pacific Oceans. According to a statement by APM Terminals, the PCRC generated revenue of US$77m and US$36m in Ebitda (earnings before interest, taxes, depreciation, and amortisation) in 2024. The deal (the terms of which were not disclosed) comes as US President Donald Trump is threatening to reclaim the Panama Canal, citing allegations of Chinese influence. This in turn follows the sale last month by Hong Kong-based, and ultimately China-controlled, holding company CK Hutchison of its stake in two key Panamanian ports (Balboa and Cristóbal) to US-controlled BlackRock, although doubts persist over the deal amid Chinese opposition to it.

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