Xin Lang Cai Jing·2026-02-25 00:30Core Viewpoint - The Panamanian government has forcibly taken control of two ports operated by Hong Kong's Cheung Kong Holdings, leading to strong protests from both the Hong Kong government and the company [1][3]. Group 1: Government Actions - On January 23, the Panamanian Supreme Court declared the contract granting Cheung Kong's subsidiary the right to operate the ports invalid, citing "unconstitutionality" [1]. - President Mulino ordered the "temporary takeover" of Balboa and Cristobal ports, claiming it was necessary for "emergency social public interest" [1][2]. - The takeover involves transferring management and operational rights to the Panama Maritime Authority, with the government stating that it does not imply a permanent loss of ownership [1]. Group 2: Impact on Operations - The two ports are significant, handling 3.77 million containers in 2025, which accounts for 38% of Panama's total port throughput [2]. - The ports will be temporarily managed by subsidiaries of Maersk and Mediterranean Shipping Company for 18 months, with plans for a public bidding process to award permanent rights to independent companies [2]. Group 3: Company Response - Cheung Kong Holdings has stated that the Panamanian government's actions are illegal and pose serious risks to the operational order, health, and safety of the ports [3]. - The company has initiated arbitration proceedings against Panama, claiming damages of $2 billion due to the forced termination of its operating rights [3]. Group 4: Market Reactions - The forced takeover has already caused delays in shipments from China to Panama, leading to increased logistics costs and freight rates [4]. - There is a general sentiment among the Panamanian public against the government's actions, with concerns about potential economic losses [4].