Panama Ports Company Sues Maersk

Panama Ports Company, a subsidiary of CK Hutchison Holdings, has initiated arbitration proceedings against A.P. Moller–Maersk in London, accusing the Danish logistics giant of conspiring with Panama to take over its port operations at the Panama Canal. This follows Panama's government seizing control of the Balboa and Cristobal ports from Panama Ports Company in February, after a Supreme Court ruling declared its concession unconstitutional. Subsequently, Panama allowed subsidiaries of A.P. Moller–Maersk and Oman Shipping Company to operate the ports. Panama Ports Company had already started arbitration against Panama in February, expanding its claims to over $2 billion in damages by late March. These legal actions are further complicating CK Hutchison Holdings' initial plan to sell its global ports, including those in Panama, to a consortium involving BlackRock in a $23 billion deal, a plan that had previously pleased Donald Trump but angered China, leading to an antitrust review.