Panama orders occupation of 2 key canal ports after Supreme Court ruling [Los Angeles Times (CA)]
CK HUTCH HLD LTD UNSP/ADR (CKHUY)
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Source: Los Angeles Times
triggered by a final Supreme Court ruling that declared the operating concession held by Hong Kong-based company CK Hutchison unconstitutional. The decree authorizes the Panama Maritime Authority to occupy the ports for “reasons of urgent social interest.” The occupation includes all movable property within or outside the Balboa and Cristóbal terminals, specifically covering cranes, vehicles, computer systems and software. The saga surrounding the two Panamanian ports is part of a broader rivalry between the United States and China, in which the Central American country became caught in the middle after President Trump accused China last year of “running the Panama Canal.” CK Hutchison was slated to sell the two ports to a consortium that includes U.S. investment firm BlackRock, but this prompted swift intervention from the Chinese government, which halted the deal. In January, Panama's Supreme Court struck down the law approving the concession contract for Panama Ports Compan
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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