Hong Kong Firm Files Arbitration Against Maersk Over Panama Port Takeover
A subsidiary of Hong Kong-based CK Hutchison Holdings, the Panama Ports Company, has initiated arbitration proceedings against Danish logistics giant Maersk. The firm accuses Maersk of conspiring with the Panamanian government to undermine its concession and facilitate a takeover of the Balboa terminal by a Maersk-affiliated operator. This legal action follows a February ruling by Panama's Supreme Court declaring the original concession unconstitutional, leading the government to seize control of the ports at both ends of the Panama Canal. Subsequently, operations were transferred to subsidiaries of Maersk and Mediterranean Shipping Company. While CK Hutchison is also pursuing separate claims against Panama for over $2 billion, this new suit targets Maersk specifically. The dispute adds complexity to CK Hutchison's planned $23 billion sale of its global port assets to a consortium including BlackRock, a deal previously supported by U.S. President Donald Trump but opposed by Beijing.
Wire timeline
Hong Kong Firm Files Arbitration Against Maersk Over Panama Port Takeover
A subsidiary of Hong Kong-based CK Hutchison Holdings, the Panama Ports Company, has initiated arbitration proceedings against Danish logistics giant Maersk. The firm accuses Maersk of conspiring with the Panamanian government to undermine its concession and facilitate a takeover of the Balboa terminal by a Maersk-affiliated operator. This legal action follows a February ruling by Panama's Supreme Court declaring the original concession unconstitutional, leading the government to seize control of the ports at both ends of the Panama Canal. Subsequently, operations were transferred to subsidiaries of Maersk and Mediterranean Shipping Company. While CK Hutchison is also pursuing separate claims against Panama for over $2 billion, this new suit targets Maersk specifically. The dispute adds complexity to CK Hutchison's planned $23 billion sale of its global port assets to a consortium including BlackRock, a deal previously supported by U.S. President Donald Trump but opposed by Beijing.
AP News