"Danish company will replace Hong Kong-based firm, CK Hutchison, after Trump claimed strategic waterway was controlled by China. Danish firm Maersk will temporarily operate two ports on the Panama Canal after a court ruled that contracts given to a Hong Kong firm were unconstitutional. The Panama Maritime Authority (AMP) announced the changes on Friday, a day after the Central American country's Supreme Court invalidated port contracts held by Hong Kong-based firm CK Hutchison."
"The court ruling followed repeated threats from United States President Donald Trump that his country would seek to take over the waterway he claimed was effectively being controlled by China. According to the court ruling that annulled the deal, CK Hutchison's contract to operate the ports had disproportionate bias towards the Hong Kong-based company. On Friday, the AMP said port operator APM Terminals, part of the Maersk Group, would take over as the temporary administrator of the Balboa and Cristobal ports."
Panama's Supreme Court invalidated port contracts held by Hong Kong-based CK Hutchison, ruling the concession was unconstitutionally biased. The Panama Maritime Authority appointed APM Terminals (Maersk Group) as temporary administrator of Balboa and Cristobal ports. CK Hutchison's Panama Ports Company had managed the ports since 1997 under a concession renewed in 2021 for 25 years. The court ruling followed threats from US President Donald Trump claiming the waterway was controlled by China. The canal handles about 40% of US container shipping and 5% of global trade. China warned it will protect the lawful rights of its companies while PPC said the ruling lacks legal basis and threatens Panamanian workers' welfare.
Read at www.aljazeera.com
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