US EditionPanama orders occupation of 2 key canal ports after Supreme Court ruling
The government invoked urgent social interest to take control of key Panama Canal ports after the Supreme Court ruled the CK Hutchison concession unconstitutional.
- Panama ordered the occupation of two ports at the entrances of the Panama Canal after a Supreme Court ruling declared the operating concession held by Hong Kong-based CK Hutchison unconstitutional.
- The decree authorizes the Panama Maritime Authority to occupy the ports, including movable property like cranes and computer systems.
- CK Hutchison had planned to sell the ports to a consortium including BlackRock, but Panama will temporarily have APM Terminals operate them while a new contract is awarded.
55 Articles
55 Articles
This decision follows the ruling of the Supreme Court, which had considered the concession to CK Hutchison, the ports of Cristobal and Balboa, located at both ends of this strategic route, as "unconstitutional". Washington welcomed the announcement while Beijing promised to "protect the rights and legitimate interests of its companies".
APM Terminals, from AP Moller-Maersk, and a local MSC Mediterranean Shipping Company will operate an internal port of each
The Panamanian government issued a decree today ordering the occupation of two ports at the entrances to the Panama Canal, following a ruling by the country's Supreme Court that declared the management concession held by Hong Kong-based CK Hutchison unconstitutional.
A judicial process that cancelled its concession to Hong Kong company CK Hutchison Holdings
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