Overview
- China called the U.S.-led accusations "completely unfounded" on Wednesday after a joint statement charged Beijing with exerting economic pressure on Panama.
- The statement, signed by the United States and five American countries, said detaining Panama-flagged vessels politicizes maritime trade and threatens hemispheric sovereignty.
- Panama reaffirmed the canal’s neutrality and said it wants respectful ties with China as it probes what it calls an unusual jump in detentions at Chinese ports.
- In January, Panama’s Supreme Court voided a CK Hutchison-linked concession for the Balboa and Cristóbal terminals, and the government put APM Terminals in temporary control.
- Tokyo MOU data show a sharp rise in detentions in Chinese ports, with 92 of 124 ships held in March flying Panama’s flag and most released after one to ten days, causing costly delays for shippers.