The authorities in Panama have taken control of two strategic ports in the Panama Canal, which were owned by the CK Hutchison conglomerate.

The authorities in Panama have taken control of the ports of Cristobal and Balboa, located at the ends of the Panama Canal, after the Supreme Court declared the concession contract with the CK Hutchison group unconstitutional. The Panamanian president, Jose Raul Mulino, criticized the contract, stating that it created an autonomous territory and subjugated the country without transparency. Panama has not received 1.2 billion dollars from the port company, which led to the contestation of the contract. CK Hutchison considers the takeover illegal and is analyzing legal options against the Panamanian state. In the geopolitical context, the USA is trying to limit Chinese influence in the area. The Panama Maritime Authority will operate the ports through other companies during an 18-month transition period, without affecting the jobs of the 1,200 employees.