Panama revokes CK Hutchison's concession for ports; Maersk and MSC take over temporarily
發佈日期: 2026-02-24 19:32
TVB News
Panama has officially cancelled Hong Kong conglomerate CK Hutchison's port contracts after a court ruling -- and grant temporary licences to two other companies.
CK Hutchison says it opposes the forced takeover, saying the move is illegal.
Citing "emergency public interest," Panama's maritime authority temporarily took over operations of the Balboa Port at the Pacific end and Cristobal Port at the Atlantic end of the Panama Canal, which CK Hutchison's subsidiary Panama Ports Company had operated for nearly three decades.
The Panamanian government says Monday its Supreme Court had ruled that the concession contracts held by CK Hutchison's subsidiary -- for the key ports were unconstitutional and invalid.
Reuters reports that the government also approved two temporary concession contracts the same day -- lasting up to 18 months.
Danish company Maersk's APM Terminals will operate Balboa Port, while Switzerland-based MSC will operate Cristobal Port.
In a televised address, Panamanian President Jose Raul Mulino says the temporary agreement does not constitute expropriation, but is intended to ensure smooth port operations.
CK Hutchison released a statement on Tuesday, saying the Panamanian government forcibly entered the two ports and barred the company's representatives from entering the sites.
It says the action poses serious risks to operations and safety at the terminals, adding that it was not notified beforehand.
Strategically located, the Panama Canal handles about 5 percent of global maritime trade.
Last year, roughly 38 percent of containers transiting the canal were handled by these two terminals.
CK Hutchison began operating the ports under concession in early 1997, renewing the contract in 2021, originally extending operations until 2047.
The Panama Supreme Court ruled that the agreements granted excessive and disproportionate benefits to Hutchison, harming Panama's fiscal revenue.
In Beijing, the Ministry of Foreign Affairs cited a statement from the Hong Kong and Macao Affairs Office, criticising the Panamanian court ruling as acting in bad faith, and undermining the legitimate rights of Chinese Hong Kong enterprises.
