LatinNews Daily - 30 January 2026

*Panama’s supreme court (CSJ) has ruled against a contract granted to Panama Ports Company (PPC), a subsidiary of Hong Kong-headquartered CK Hutchison Holdings, for the ownership of the Balboa and Cristóbal ports on the Panama Canal. The ruling, which will be welcomed by the US government led by President Donald Trump, is in line with legal challenges filed against the contract by Panama’s comptroller general last July, following an audit which found irregularities in the 2021 extension of the contract granted to PPC. The concession has been at the centre of tensions between Panama and the US amid the latter’s efforts to reduce Chinese influence over the Panama Canal. In March 2025 CK Hutchison Holdings announced it had agreed to sell its 90% stake in the ports to an international consortium led by US investment firm BlackRock Inc. However in July, Hutchison said that the period for exclusive negotiations with the BlackRock-led consortium had expired, amid reports that China’s state-owned shipping giant Cosco was looking to join the consortium. A PPC statement in response to yesterday’s ruling cited by Reuters said that it “lacks legal basis and jeopardizes not only PPC and its contract, but also the well-being and stability of thousands of Panamanian families who depend directly and indirectly on port activity but also the rule of law and legal certainty in the country”. According to Reuters, “analysts have flagged the likelihood Panama Ports will lodge an arbitration complaint after losing the case”.

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