Panama officially scraps CK Hutchison contracts, handing canal ports to Maersk [Yahoo! Finance Canada]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Yahoo! Finance Canada
The publication finalizes the legal annulment of concessions for the ?Balboa and Cristobal terminals near the Panama Canal, which Panama Ports Company (PPC), subsidiary of Hong Kong-based CK Hutchison, had operated for more than two decades. The Panama Maritime Authority (AMP) has taken possession of both ports by decree to ensure uninterrupted ?operations, said Alberto Aleman ?Zubieta, head of the technical team overseeing the transition, after the ruling became final upon publication. "Two separate contracts are being ?presented to the Board of Directors of the AMP — one for the Port of Balboa and one for the Port of Cristobal — instead of a single ?contract for ?both ports," Aleman Zubieta told a ?press conference. Maersk did not immediately ?have a comment about the matter. Early in Feburary, Panamanian President Jose Raul Mulino said the government would move forward to formalize an agreement with APM Terminals Panama, a subsidiary of Danish shipping group Maersk, to man
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News
- A Look At CK Hutchison Holdings (SEHK:1) Valuation After Recent Share Price Moves [Yahoo! Finance]Yahoo! Finance
- 2 Panama Canal ports have dragged Panama into a tussle between superpowers [Los Angeles Times (CA)]Los Angeles Times
- CK Hutchison's subsidiary decries Panama's "invasion" of property [Yahoo! Finance]Yahoo! Finance
- 2 Panama Canal ports have dragged Panama into a tussle between superpowers [Yahoo! Finance Canada]Yahoo! Finance Canada
- 2 Panama Canal ports have dragged Panama into a tussle between superpowers [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The