A Hong Kong-based conglomerate has agreed to sell its controlling stake in a subsidiary that operates ports near the Panama Canal to a consortium including BlackRock Inc., effectively putting the port

Despite an influx of Chinese-operated ships onto Hong Kong’s registry, the number of oceangoing vessels flagged in the city fell more than 8 per cent to 2,366 in January from 2,580 four years earlier, according to independent analysis by VesselsValue. Government data show a similar drop.

China’s presence in Panama has expanded rapidly, sparking fears in Washington. But Panama has already started shifting its allegiances and announced the transfer of major container ports to a US-led consortium.

(Reuters) - Hong Kong's CK Hutchison Holdings said on Tuesday a consortium including BlackRock Inc would buy an 80% stake in Hutchison Ports Group for an equity value of $14.21 billion.