Overview
- By emergency decree, the Maritime Authority occupied the Balboa and Cristóbal terminals and took possession of all movable assets, including cranes, vehicles, and IT systems, to ensure continuity.
- Former canal administrator Alberto Alemán Zubieta was appointed to lead the handover under a government plan that contemplates an interim regime of up to 18 months pending a new tender.
- Labor officials pledged no layoffs for roughly 1,200 port workers as services continue under temporary management.
- CK Hutchison’s Panama Ports Company rejected the move as illegal and said it will pursue international arbitration, warning of possible claims against the state and potential lawsuits against APM Terminals.
- The dispute unfolds within broader U.S.-China competition over strategic trade routes, with reports that a planned sale involving BlackRock was previously stalled by Chinese intervention.