Comptroller general lodged two cases in country’s supreme court after failed attempt to sell to consortium
Panama’s comptroller general has lodged two cases with the country’s supreme court against the owners of two ports at the centre of a geopolitical struggle between the US and China, in a move likely to be seen as a victory for Donald Trump in his attempt to rid the Panama canal of Chinese influence.
The decision follows a failed attempt to sell the ports to a consortium headed by the US investment fund BlackRock and Swiss shipping firm MSC.
The two ports, at each end of the Panama Canal, were originally awarded to the Hong Kong-based firm CK Hutchison in 1997. They entered the geopolitical spotlight on 20 January when Trump used his inauguration speech to vow he would “take back” the canal from supposed Chinese influence. The very same day, Anel Flores, the comptroller general, announced he would begin an audit of the ports’ owner, Panama Ports Company.
In March, BlackRock, the world’s biggest asset management company, announced it was working with MSC to acquire Panama Ports Company and 41 other ports in CK Hutchison’s global portfolio.
