Panama urges Chinese shipping giant Cosco to resume operations at canal

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The Panamanian government is urging Chinese shipping giant Cosco to resume operations at the Balboa port, a critical terminal at the Panama Canal's entrance. Cosco, a major tanker fleet owner, recently announced a suspension of services at the port without providing a reason, surprising Panamanian officials. The Balboa port is significant, handling 10 million containers last year from various shipping lines. Panama's Minister for Canal Affairs, Jose Ramon Icaza, expressed hope that Cosco would reconsider its decision, emphasizing the importance of Cosco's cargo to Panama. The government's request comes amid unspecified geopolitical tensions and concerns surrounding Hong Kong’s CK Hutchison Holdings.
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