【CK Hutchison Sells Panama Port】Hutchison Panama Port Company Claim Amount Rises to Over $2 Billion, Alleges Panama Government Attempting to Delay International Arbitration Process

Cheung Wo (00001)
Two ports owned by its Panama port subsidiary were recently taken over by the Panamanian government. The Panama port announced that, after the illegal takeover of the Balboa and Cristóbal container terminals and the occupation of Panama Port Company’s assets for a month, it has expanded its international arbitration claims against the Panamanian government. The related compensation amount has now increased to over $2 billion (approximately HKD 15.6 billion).

Panama Port Company submitted additional documents to the International Court of Arbitration on March 24, 2026, stating that the Panamanian government has continued to take extreme administrative measures over the past month, including forcibly taking over and occupying the two container terminals of Panama Port Company, seizing proprietary and legally protected documents, and a series of related misconduct. This further demonstrates that the Panamanian government has been targeting Panama Port Company for over a year, with ongoing escalation.

The arbitration is being conducted under the rules of the International Chamber of Commerce International Court of Arbitration.

Regarding the international arbitration, it is currently proceeding under the ICC Rules. However, while the Panamanian government continues to take actions locally against Panama Port Company, it has yet to submit its first defense in the international arbitration process. The Panamanian government has explicitly stated that it has not yet appointed legal counsel, citing this as a reason for delay.

As previously warned by Panama Port Company, the Panamanian government is attempting to delay the arbitration process and is trying to involve third parties unrelated to the relevant contracts in this case. Panama Port Company reserves the right to respond to all matters raised by the Panamanian government.

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