In Panama, the exit of the Hong Kong conglomerate CK Hutchison from the operation of two ports near the Panama Canal has become a fact. This measure, long-awaited by several sectors, has been concretized amid pressures from the U.S. and China, and has unleashed calls in the country for the announced new port concession tender to be open and transparent.
The 1997 contract that granted a 25-year concession for the ports of Balboa (Pacific) and Cristóbal (Atlantic) to Panama Ports Company (PPC), a subsidiary of CK Hutchison, as well as the addenda and the 2021 automatic extension, were declared unconstitutional by the Supreme Court of Justice (CSJ). That is, they were annulled by the ruling, which responds to two lawsuits filed in July 2025 by Panama's Comptroller General, Anel Flores.
A concession criticized for decades The concession has been surrounded by allegations of supposed corruption and accused of reflecting unfavorable conditions for the Panamanian State, which owns 10% of PPC's shares. Analyst José Stoute stated that PPC's contract "was one of the worst that the Republic of Panama has signed," with corruption allegations dating back to the government of Mireya Moscoso (1999-2004). "No one sheds a tear for Panama Ports, because they haven't paid what they owe," said economist and businessman Felipe Argote.
The U.S., China, and the concession The presence of the Hong Kong conglomerate was the basis for former President Donald Trump's threat to reclaim the interoceanic canal, built and administered by the United States for more than 80 years. Trump considered a victory the port purchase-sale agreement reached in early 2025 between CK Hutchison and a consortium led by BlackRock for nearly $23 billion, an operation that was halted by Beijing. "The United States feels encouraged by the recent decision of the Supreme Court of Panama," said Secretary of State Marco Rubio. For its part, China warned that it will take measures to protect the interests of its companies, according to spokesman Guo Jiakun.
Operational continuity with APM Terminals President José Raúl Mulino announced a new concession process, while the ports will continue to be operated by PPC until the ruling becomes final. Then a transition will begin in which APM Terminals Panama, of the AP Moller-Maersk group, will temporarily assume the operation. "It's not as simple as taking the keys," warned Argote, recalling the existence of labor liabilities and infrastructure issues.
A new open and transparent concession The Panama Maritime Chamber (CMP) requested to know the parameters and deadlines for the new concessions and demanded guarantees of transparency and local and international participation.
