Panama Supreme Court Annuls Container Terminal Contract Threatening Global Port Deal
Panama's Supreme Court has annulled a long-term port contract held by CK Hutchison at the Panama Canal. The decision jeopardizes a multi-billion dollar sale.
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PA's Supreme Court has annulled a decades-old contract allowing Panama Ports Company, a subsidiary of CK Hutchison Holdings Limited , to operate major container terminals at both the Pacific and Atlantic entrances of the PanamaCanal. The ruling, which was issued last week, directly threatens a proposed 23 billion dollar sale of 43 ports across 23 countries to a consortium led by BlackRock, Inc. and Mediterranean Shipping Company. This legal development has immediately intensified geopolitical friction, drawing sharp warnings from authorities in China 
CNand supportive reactions from officials in the United States 
US.
PA's Supreme Court has annulled a decades-old contract allowing Panama Ports Company, a subsidiary of CK Hutchison Holdings Limited , to operate major container terminals at both the Pacific and Atlantic entrances of the PanamaCanal. The ruling, which was issued last week, directly threatens a proposed 23 billion dollar sale of 43 ports across 23 countries to a consortium led by BlackRock, Inc. and Mediterranean Shipping Company. This legal development has immediately intensified geopolitical friction, drawing sharp warnings from authorities in China CNand supportive reactions from officials in the United States US.
