Port of Balboa in Panama, on February 23, 2026. MARTIN BERNETTI / AFP
Panamanian authorities have taken control of two ports on the Panama Canal from CK Hutchison after the Hong Kong-based conglomerate's concession was annulled amid a row between the United States and China. CK Hutchison objected on Tuesday, February 24, to the takeover, which it called "unlawful" and said raises "serious risks to the operations, health and safety" at terminals."
In January, the country's supreme court declared as "unconstitutional" the contract which had allowed Hutchison's subsidiary Panama Ports Company (PPC) to manage the ports of Balboa on the Pacific and Cristobal on the Atlantic since 1997.
"The Panama Maritime Authority has taken possession of its ports and guarantees the continuity of operations," an official said Monday after the Panamanian Supreme Court annulled Hutchison's contracts to operate the ports. The court ruling was the latest legal move to ripple through the interoceanic waterway, which handles about 40% of US container traffic and 5% of world trade.
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