Panamanian authorities have taken control of two ports on the Panama Canal from CK Hutchison after the Hong Kong-based conglomerate's concession was annulled amid a row between the United States and China. In January, the country's supreme court declared as "unconstitutional" the contract which had allowed Hutchison's subsidiary Panama Ports Company (PPC) to manage the ports of Balboa on the Pacific and Cristobal on the Atlantic since 1997. Publication of the court ruling in the official gazette Monday (February 23, 2026) effectively ended the legal process. Following the court's January ruling, the Panama Maritime Authority had said a division of Maersk Group would temporarily take over operation of the facilities. The Panama Canal was built by the United States, which operated it for a century before ceding control to Panama in 1999.

Source: The Hindu February 24, 2026 05:47 UTC