They handled 3.77 million containers in 2025, which represent 38% of the national port system.

On Monday, the Panamanian government assumed control of the Balboa and Cristobal ports, located near the Panama Canal, following the court’s annulment of the concession granted to Panama Ports Company (PPC), a subsidiary of Chinese conglomerate CK Hutchison.

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The Panama Maritime Authority (AMP), headed by Ports Director General Max Flores, decreed the legal occupation of the terminals to “guarantee their operation” without expropriating PPC’s equipment or machinery.

The AMP approved a transitional operating plan of up to 18 months with international operators, such as APM Terminals, a subsidiary of Maersk, on the Pacific side, and Terminal Investment Limited (TiL), the arm of Mediterranean Shipping Company (MSC), on the Atlantic side.

The Panamanian government presented the plan seeking to prioritize national interests and the stability of the port system. Balboa and Cristobal ports handled 3.77 million containers in 2025, which represent 38% of the national port system.

Labor Minister Jackeline Muñoz assured job security for workers at both ports and confirmed that there will be no layoffs during the transition. Meanwhile, some PPC managers have left their positions in recent weeks.

Panama’s Supreme Court annulled the concession granted to PPC following lawsuits filed by Comptroller General Anel Flores, who described the contract as “onerous” and detrimental to the interests of Panama.

PPC spokesperson Alejandro Kouruklis explained that the company had initiated arbitration proceedings against Panama at the International Chamber of Commerce (ICC), claiming US$2 billion under the concession agreement.

teleSUR: JP

Source: EFE

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