Panama Ports Company, S.A. (PPC) has initiated arbitration proceedings against Maersk, alleging that the shipping company had taken control of its terminals near the Panama Canal and breached a long-term contract. The Port of Balboa 🏗️, formerly part of the… Read More »Panama Ports Company Starts Arbitration Against MAERSK
APM Terminals to Operate Ports During Transition Thursday last week, Panama’s Supreme Court of Justice declared the contract between CK Hutchison’s Panama Ports Company S.A. (PPC) and the State of Panama unconstitutional, annulling the decades long concession. PPC, a subsidiary… Read More »Panama Ports Concession Declared Unconstitutional
The reported sale of CK Hutchison’s global port portfolio to a consortium led by BlackRock and MSC has stalled amid rising geopolitical and legal complexity, according to The Wall Street Journal. The sale includes the ports of Balboa and CristĂłbal… Read More »Panama Ports Deal Gridlocked as China Makes New Demands for its Approval
Hong Kong’s CK Hutchison says its $23 billion ports sale, including two key Panamanian ports, will not close this year as it awaits Beijing’s approval for the transaction with a BlackRock-led consortium. The deal, announced in March, would transfer 43… Read More »CK Hutchison: No Panama Ports Deal This Year