Panama’s port takeover ‘culmination of a campaign’ against CK Hutchison
Company says officials entered terminals ‘without invitation’, told staff concession had ended and ordered immediate halt to operations
The conglomerate, led by Hong Kong tycoon Li Ka-shing’s family, made the remarks on Tuesday, a day after the Panama Maritime Authority acted on a presidential decree allowing it to take over and operate the Balboa and Cristobal ports at either end of the Panama Canal for “reasons of urgent social interest”.
The move coincided with the formal publication of a Supreme Court ruling from January that declared unconstitutional the law approving the concession held by CK Hutchison’s subsidiary, Panama Ports Company (PPC).
“The takeover of the two terminals reflects the culmination of a campaign by the Panama state against PPC and the concession contract over the past year,” CK Hutchison said.
“The actions and instructions of the Panama state made it impossible for PPC to continue its operations and, consequently, PPC ceased all operations at the terminals at Balboa and Cristobal on February 23, 2026.”
It added that government representatives had “arrived without invitation” and made “direct physical entry” into the two ports, informing PPC that the concession “no longer exists” and the company had to cease operations.