What’s behind plan to adopt multi-operator model for Panama Canal ports?

Panama is aiming to mitigate geopolitical risks and respond to US pressure by adopting a multi-operator model for its strategic canal after nullifying the concession granted to Hong Kong’s CK Hutchison to operate two of the ports, analysts have said.Panamanian President Jose Raul Mulino was reported to have vowed on Thursday that his country would “never again” grant concession contracts to run the Balboa and Cristobal terminals at each end of the Panama Canal to a single company.The country’s Supreme Court of Justice last week stripped the rights from the Panama Ports Company (PPC), a subsidiary of the conglomerate led by Hong Kong billionaire Li Ka-shing’s family.The PPC has managed the ports since 1997 and renewed the contract for 25 years in 2021.While Beijing slammed the court’s decision and vowed to take all necessary measures to safeguard the rights of Chinese enterprises on Friday last week, Mulino offered up a strong response, according to Reuters.“Panama is a dignified country and will not allow itself to be threatened by any country on Earth,” he said.