United Daily News (UDN), one of the primary Taiwanese news groups, recently reported that Panamanian President Jose Raul Mulino has ordered a temporary takeover of two ports operated in Panama by a subsidiary of CK Hutchison Holdings. Last month, the Panamanian Constitutional Court ruled CK Hutchison’s port concession contracts invalid.
Mulino said in a statement that the management and operation of the two ports located in the strategic Panama Canal have now been transferred to the National Maritime Authority in order to “ensure the ports operate continuously, safely and efficiently.” He stated that the takeover applies to movable equipment within the port and “does not mean a loss of ownership.” He indicated that once the cause of the takeover ceases to exist, the government will return the assets, including the cranes, to their rightful owners. Panama will pay appropriate compensation unless the equipment is sold to a new buyer.
CK Hutchison’s subsidiary in Panama stated that the takeover was illegal. CK Hutchison Holdings is a conglomerate founded by Hong Kong tycoon Li Ka-shing. In January, Panama’s Supreme Court revoked CK Hutchison’s port operating concession. The ruling was praised by Washington but drew criticism from Beijing.
Source: UDN, February 24, 2026
https://udn.com/news/story/6809/9341089