Panama just delivered a massive win for Western shipping interests — and, by extension, global energy security — by kicking a China-linked Hong Kong conglomerate out of the driver’s seat at the Panama Canal’s most critical ports.
In a move formalized Monday (Feb. 24, 2026) in the country’s official gazette, Panama annulled long-standing concessions held by Panama Ports Company (PPC), a subsidiary of CK Hutchison Holdings, and took direct control of the Balboa and Cristóbal terminals. President José Raul Mulino ordered the temporary occupation so the National Maritime Authority could guarantee “uninterrupted, safe and efficient” operations.
Here are the key facts:
