The president of the Federal Maritime Commission (FMC), Laura DiBella, stated that China's retaliatory measures against Panama for the withdrawal of a Chinese conglomerate from the operation of the Balboa and Cristóbal ports are affecting global maritime transport conditions.
Port Concession Cancellation The Supreme Court of Justice canceled the concession granted to Panama Ports Company (PPC), a subsidiary of the Hong Kong-based conglomerate CK Hutchison, on January 30. This decision allowed the Panamanian state to take control of the strategic ports of the Panama Canal. The transitional operation was assigned for up to 18 months to APM Terminals, a subsidiary of the Danish Maersk, and to Terminal Investment Limited (TiL), the port arm of the Mediterranean Shipping Company (MSC).
China's Reaction According to the FMC, in response to Panama's decision, the Chinese Ministry of Transport summoned Maersk and MSC to Beijing for high-level talks. Additionally, the Chinese state-owned shipping company COSCO suspended its services in Balboa and redirected operations. DiBella noted that China has intensified the detention of Panamanian-flagged vessels, exceeding historical standards, which "appears to aim to punish Panama" following the transfer of port assets.
Possible Consequences for the United States The FMC president warned that vessels under the Panamanian flag carry a significant portion of the United States' container trade, so these actions could generate commercial and strategic impacts.
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Panama maintains the world's largest ship registry, with 8,710 vessels and 235.6 million gross tons, which amplifies the potential effect on international maritime trade.
Warning on the Supply Chain DiBella emphasized that measures that delay or stop vessels trading with the United States are incompatible with the reliability of the global supply chain. The Federal Maritime Commission assured that it is closely following the events at the Panama Canal terminals and China's retaliatory measures due to their impact on world maritime transport.
