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24.02.26 - 21:21
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Panama Seizes China-Linked Ports Amid Trump-Beijing Dispute (ZeroHedge)
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Panama Seizes China-Linked Ports Amid Trump-Beijing Dispute
Panama published a Supreme Court decision, issued in late January, that voided key port operations held by Hong Kong-based CK Hutchison. The Balboa and Cristobal terminals have become entangled in a legal dispute involving Washington and Beijing. The timing is important, as it comes about a month before President Trump's planned late-March trip to China.
On Monday, the ruling authorized the Panama Maritime Authority to take over the Balboa and Cristobal terminals near the Panama Canal, ending concessions held by Panama Ports Company (PPC), a CK Hutchison subsidiary, for more than two decades.
The ruling stated that the Panama Maritime Authority will occupy both ports for "reasons of urgent social interest" and take control of all cranes, vehicles, computer systems, and software.
CK Hutchison said Panama's move was "unlawful" and threatened national and international legal action against the country, which controls the 50-mile man-m...
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