Panama Ports Co seeking US$2bn in compensationAP, HONG KONGA subsidiary of a Hong Kong-based company that has lost control of two critical ports on the Panama Canal said it is seeking US$2 billion of compensation in damages from Panama over its “illegal” takeover of the ports. Panama Ports Co, a unit of Hong Kong’s CK Hutchison Holdings (長江和記實業), on Friday said in a statement that it is demanding the sum under international arbitration proceedings that it had already started. The Panamanian government last week seized control of the Balboa and Cristobal ports on each end of the Panama Canal, after the country’s Supreme Court declared earlier that a concession allowing Panama Ports to run the pair of ports was unconstitutional. Photo: AFPPanama Ports operated the two ports since 1997 and had only renewed its concession in 2021 for another 25 years. Panamanian Minister of Economy and Finance Felipe Chapman had earlier said the company was seeking US$1.5 billion in compensation.

Source: Taipei Times March 07, 2026 17:26 UTC