AP Moller-Maersk – Charm

Panama’s port takeover ‘culmination of a campaign’ against CK Hutchison

2 months ago02 mins

Hong Kong’s CK Hutchison has condemned the uninvited takeover of its Panama port by the country’s authorities, calling it unlawful and the “culmination of a campaign” against its subsidiary that operated the terminals. The conglomerate, led by Hong Kong tycoon Li Ka-shing’s family, issued its statement on Tuesday, a day after Panama’s Maritime Authority acted…

The administrative entrance at the port of Balboa in Panama City on February 12. Photo: AFP

Panama orders control of canal ports operated by Hong Kong firm after Supreme Court ruling

2 months ago02 mins

The Panamanian government on Monday issued a decree ordering the occupation of two ports at the entrances of the Panama Canal, a move triggered by a final Supreme Court ruling that declared the operating concession held by the Hong Kong-based company CK Hutchison unconstitutional. The decree authorises the Panama Maritime Authority to occupy the ports…