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3h ago

Panama Finalizes Port Annulment, Installs Maersk and MSC as Interim Canal Operators

Authorities aim to keep canal traffic moving through an 18-month transition to new concessions.

Containers dock at Panama Ports Company (PPC) after Panama's Official Gazette published a court ruling formally annulling Hong Kong's CK Hutchison Holdings concessions for two ports along its strategic canal, after ruling late January the contracts violated the constitution, in Panama City, Panama, February 23, 2026. REUTERS/Enea Lebrun
An entrance to the Balboa terminal, run by CK Hutchison's Panama Ports Co., is closed after Panama's government ordered the occupation of the port following a Supreme Court ruling that the concession was unconstitutional in Panama City, Monday, Feb. 23, 2026.
A drone view shows Panama Ports Company (PPC) after Panama's Official Gazette published a court ruling formally annulling Hong Kong's CK Hutchison Holdings concessions for two ports along its strategic canal, after ruling late January the contracts violated the constitution, in Panama City, Panama, February 23, 2026. REUTERS/Enea Lebrun

Overview

  • Publication of the Supreme Court ruling in the official gazette nullified CK Hutchison’s concessions for Balboa and Cristóbal, enabling the state to take control.
  • The Panama Maritime Authority assumed possession by decree and designated APM Terminals for Balboa and MSC’s Terminal Investment Limited for Cristóbal under temporary contracts.
  • Officials said operations will continue without layoffs for roughly 1,200 workers, and the decree permits temporary use of movable assets such as cranes and IT systems to maintain service.
  • CK Hutchison began ICC arbitration, condemned the action as unlawful, and said authorities made direct entry to the terminals and ordered its Panama Ports unit to cease operations.
  • Beijing protested and warned of political and economic consequences, reflecting tensions heightened after President Trump alleged China was running the canal.