panama canal News Updates

Panamanian President José Raúl Mulino ordered the temporary occupation of two ports run by a unit of CK Hutchison Holdings after a Panama court ruled against the firm’s concession.

The warning came after Panama authorities invalidated CK Hutchison’s contract to operate the Balboa and Cristobal ports, seeking Maersk’s APM Terminals to run them in a transition phase.  

The Hong Kong-based conglomerate said in a separate stock exchange filing that it will “vigorously pursue” the case under the rules of the International Chamber of Commerce.

The increased flexibility comes as the canal is currently benefiting from higher-than-average water levels.

The deal covers 43 of CK Hutchison’s ports, including two in the strategic Panama Canal. 

The Panama Canal is planning to enter the ports business with a tender for two terminals, a move that comes amid a high-profile clash between the U.S. and China over the waterway.

A Hong Kong conglomerate that had agreed to sell its two ports at the Panama Canal said it may seek a Chinese investor to join a consortium of buyers, which could bring more U.S. scrutiny to the deal.

Pete Hegseth's visit comes amid tensions over President Trump’s assertions that the U.S. is being overcharged to use the Panama Canal and that China has influence over its operations.

Panama’s top auditor accused port operator CK Hutchison of wrongdoing, providing a potential path for the  country to wrest control of canal facilities caught in a U.S.-China tug-of-war.

A.P. Moller-Maersk purchased a railway linking ports at both ends of the Panama Canal, undermining the U.S.'s presence along a trade route where Donald Trump is trying to elbow out competitors.