Panama Seizes Ports for 'Reasons of Urgent ... Interest'
Newser • • nation
Key Points:
- Panama's Supreme Court declared the concession contract for two Panama Canal terminals operated by Hong Kong-based CK Hutchison unconstitutional, prompting the government to seize control of the ports.
- The Panama Maritime Authority took over the Balboa and Cristobal terminals, including cranes, vehicles, and computer systems, citing "urgent social interest," while CK Hutchison ceased operations and threatened legal action.
- The dispute is part of broader US-China tensions, with the Chinese government blocking CK Hutchison's planned sale of the ports to a US-led consortium including BlackRock.
- Panama announced that APM Terminals, a Danish company, would temporarily manage the ports to ensure operational continuity and job security during the transition.
- CK Hutchison has initiated arbitration with the International Chamber of
