Panama – Panama's government on March 13 asked Chinese shipping giant Cosco to reconsider its suspension of operations at a Panama Canal port, the latest fallout from an ongoing disagreement between the US and China over the waterway's oversight. Panamanian authorities took back control of the trans-oceanic waterway on Feb 23, and Minister for Canal Affairs Jose Ramon Icaza told reporters 'the Cosco issue really took us a bit by surprise'. China had threatened Panama with payback after the court's decision. Panama has always denied Chinese control over the 80km waterway, which is mainly used by the US and China. 'Cosco's cargo is certainly important for Panama and we hope they reconsider the decision not to use the port of Balboa,' Mr. Icaza said. Earlier this week, state-owned Cosco, which owns one of the world's largest tanker fleets, said it would suspend operations at the Balboa port after a court annulled a contract that had allowed a subsidiary of Hong Kong-based CK Hutchison Holdings to operate two terminals in the canal since 1997. He added that Cosco's cargo 'accounts for 4 per cent of the port's throughput; it is a significant volume and we hope it will eventually return'. Almost 10 million containers passed through Panama's ports in 2025. The Central American country has been swept up in broader tensions between Washington and Beijing, with US President Donald Trump claiming in 2025, without providing evidence, that China effectively runs the canal.
