Panama cancels China-linked port deal, hands canal terminals to Maersk, MSC [MSNBC.com]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: MSNBC.com
In this articleThis aerial view shows a cargo ship sailing out of the Panama Canal on the Pacific side in Panama City on October 6, 2025.Martin Bernetti | Afp | Getty ImagesPanama annulled key port contracts held by a subsidiary of Hong Kong-based CK Hutchison in its official gazette Monday, transferring interim operations of the ports to Danish shipping giants A.P. Moller-Maersk and Swiss-based Mediterranean Shipping Co.The notice formalized a Supreme Courtruling last monthThe Panamanian government on Monday formally assumed control of the port facilities, including cranes, vehicles, computer systems and software under a decree aimed at ensuring uninterrupted operations until a new concession is awarded within 18 months.Under the interim arrangement, APM Terminals, a unit of Maersk, will operate the Balboa port on the Pacific side of the canal, while MSC's port operating subsidiary, Terminal Investment, will run the Cristobal port on the Atlantic side.Shares ofCNBC reached out to CK
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