Some Hong Kong-based shipowners are looking to navigate US tariffs and Washington’s escalating trade war with China by changing their vessels’ registration flags to jurisdictions with fewer geopolitical risks such as Panama and Liberia, the Post has learned. According to industry sources, some shipowners are preparing exit plans to mitigate rising political risks even though…
Some Hong Kong-based shipowners are looking to navigate US tariffs and Washington’s escalating trade war with China by changing their vessels’ registration flags to jurisdictions with fewer geopolitical risks such as Panama and Liberia, the Post has learned. According to industry sources, some shipowners are preparing exit plans to mitigate rising political risks even though…
US investment firm BlackRock, which is leading a consortium seeking to buy 43 ports from Hong Kong tycoon Li Ka-shing’s CK Hutchison Holdings, aims to take control of its two strategic Panama Canal facilities, while Italy’s wealthy Aponte family will have a majority stake in the others, the Post has learned. A source close to…
Li Ka-shing’s CK Hutchison Holdings has defended the contract that has allowed it to run two ports at the Panama Canal since 1997, saying the concession was “validly executed and approved by law” and denying it failed to pay more than US$1 billion to the country, as had been claimed in a sweeping financial audit….
Hanging from a ladder attached to the hull of a giant, bobbing tanker, Capt. Efraín Hallax began his climb up to the crew awaiting him atop the Athina, a ship anchored in Panama Bay and third in line to transit the Panama Canal. The daunting ascent up the shifting ship was nothing new for Captain…
A senior Panamanian official on Monday said he had uncovered evidence of misconduct by a Hong Kong company, a finding that could delay or even scuttle a ports deal that has put China at loggerheads with the United States. Last month the Hong Kong conglomerate CK Hutchison agreed to sell a business that encompasses 43…
The Hong Kong firm whose management of two ports at either end of the Panama Canal sparked US President Donald Trump’s ire flouted the conditions of its contract, an audit by Panama’s authorities found on Monday. The audit found “many breaches” of the concession awarded to a subsidiary of ports giant CK Hutchison to operate…
A senior United States official has discussed the importance of an ongoing audit of CK Hutchison’s management of two ports at the Panama Canal with the country’s foreign minister, amid controversy surrounding the Hong Kong company’s sales of the facilities. Panamanian authorities announced their audit of Hong Kong tycoon Li Ka-shing’s CK Hutchison in January…
A decades-old concession giving Hong Kong-based CK Hutchison Holdings control of ports at either end of the Panama Canal carries deep constitutional consequences for the country’s sovereignty, two lawyers challenging the contract have told the Post. The action, filed by lawyers Norman Castro and Julio Macias with the country’s Supreme Court, targets the law that…
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