Panama’s port takeover ‘culmination of a campaign’ against CK Hutchison

Hong Kong’s CK Hutchison has condemned the uninvited takeover of its Panama port by the country’s authorities, calling it unlawful and the “culmination of a campaign” against its subsidiary that operated the terminals.The conglomerate, led by Hong Kong tycoon Li Ka-shing’s family, made the remarks on Tuesday, a day after Panama’s Maritime Authority acted on a presidential decree allowing it to take over and operate the Balboa and Cristobal ports for “reasons of urgent social interest”.The move coincided with the formal publication of a Supreme Court ruling from January that declared unconstitutional the law approving the concession held by CK Hutchison’s subsidiary, Panama Ports Company (PPC).“The takeover of the two terminals reflects the culmination of a campaign by the Panama State against PPC and the concession contract over the past year,” CK Hutchison said in its statement.“The actions and instructions of the Panama State made it impossible for PPC to continue its operations and, consequently, PPC ceased all operations at the terminals at Balboa and Cristobal on February 23, 2026,” it said.It added that government representatives had “arrived without invitation” and made “direct physical entry” into the two ports, informing PPC that the concession “no longer exists” and the company must cease operations.