US EditionHong Kong firm begins arbitration proceedings over ruling against its Panama Canal port contract
CK Hutchison disputes Panama Supreme Court's annulment of its port concessions citing unconstitutional privileges; the ruling imperils a $23 billion port sale amid US-China geopolitical tensions.
- Beginning arbitration, CK Hutchison said it reserves all rights after the Panama court's January 30 ruling,
- Panama's top court voided the concession on January 29, declaring it unconstitutional and biased in favor of the company to the detriment of the state's treasury.
- Official figures show Balboa and Cristóbal handled 3.88mn TEUs in 2025, representing 39.2% of container traffic; PPC has managed the terminals since the 1990s with a 25-year extension authorized in 2021.
- Beijing's Hong Kong and Macau Affairs Office denounced the ruling as `absurd`, `shameful and pathetic` and warned Panama would `pay a heavy price`, while U.S. officials hailed it as a win for America.
- From an investment perspective, the ruling complicates CK Hutchison's proposed sale of more than 40 ports worldwide to a consortium led by BlackRock and Mediterranean Shipping Company, a $23bn transaction value, and may reduce Beijing's leverage where COSCO sought inclusion.
92 Articles
92 Articles
The Supreme Court of Panama annulled the contracts of Hong Kong port developer CK Hutchison. The company operates two ports on the Panama Canal. Beijing suspects that the US government is behind them.
After the cancellation of port contracts by a Hong Kong company on the Panama Canal, Beijing is strongly criticizing the US. The company also intends to defend itself.
Panama ports defeat shows China faces tougher test in Latin America
China said Panama risks paying a “hefty political and economic price” following the cancellation of Hong Kong-based CK Hutchison Holdings’ contract to operate two major ports serving the Panama Canal. “The Panamanian authorities’ insistence on this despite widespread concerns is tantamount to shooting themselves in the foot,” China’s Hong Kong and Macau Affairs Office said in a commentary posted on its WeChat account on Tuesday. The decision by …
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CK Hutchison launches arbitration over Panama Canal port ruling
Hong Kong-based conglomerate CK Hutchison said in a statement Tuesday it has initiated international arbitration against Panama, after a ruling by the country's top court annulled a concession allowing it to operate ports at the Panama Canal.
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