|
The
Panama Ports Company, a unit of Hong Kong’s CK Hutchison
Holdings, said in a statement dated Tuesday that Maersk A/S had
undermined a contract over the Hong Kong company's operations of
ports at either end of the Panama Canal in order to pave the way
for a new operator affiliated with Maersk to take over the
Balboa terminal.
The company said the arbitration will be held in London, but
didn't explain what remedy it was seeking.
In February, Panama’s government seized control of the Balboa
and Cristobal ports after the country’s Supreme Court declared
earlier that a concession allowing the Panama Ports Company to
run the ports was unconstitutional. The ruling drew backlash
from China.
The Panamanian government later allowed subsidiaries of Maersk
and the Mediterranean Shipping Company to take over operations
at the two ports.
Panama Ports Company started arbitration proceedings against
Panama in February. In late March, it expanded its claims,
saying damages have escalated beyond $2 billion.
It said on Tuesday that its claim against Maersk is separate
from its ongoing steps to hold Panama accountable for what it
called “anti-contract and anti-investor conduct.”
Neither Panama's government nor Maersk immediately commented.
The legal actions could further complicate CK Hutchison's
initial plan to sell the bulk of their dozens of global ports,
including the two Panama ports, to a consortium that involved
U.S. investment firm BlackRock in a $23 billion deal.
The sale plan, first announced in March 2025, pleased U.S.
President Donald Trump, who has alleged Chinese interference
with the critical shipping lane’s operations. But the planned
sale apparently angered Beijing, and China's antitrust regulator
last year said it would initiate a review of the deal.
The parties involved in the deal have since been looking for
ways to move forward with the sale, including considering plans
to add a Chinese investor to the consortium.
All contents © copyright 2026 Associated Press. All rights reserved
|
|
