Overview
- CK Hutchison warned A.P. Moller-Maersk that any move to operate the Balboa and Cristóbal ports without its consent would trigger legal action.
- Panama’s Supreme Court in late January voided the 1997 concession and its 2021 renewal that allowed CK Hutchison’s Panama Ports Company to run the two terminals.
- Panamanian authorities said PPC will continue until the ruling is executable, after which APM Terminals Panama has been designated to take over on a temporary basis.
- APM Terminals stated it is not a party to the legal disputes and reiterated its readiness to operate temporarily to safeguard essential trade services.
- CK Hutchison has initiated arbitration and notified Panama of a dispute under an investment protection treaty, while the canal authority has launched a $2.6 billion tender for new Telfers and Corozal terminals.