Foreign media: Hong Kong-based CK Hutchison Holdings has threatened to take legal action against Danish shipping giant Maersk (A.P. Moller-Maersk) over the Panamanian government's decision to temporarily take over two strategic ports at both ends of the Panama Canal.
CK Hutchison warned Maersk that it may face legal consequences if it operates these ports without its consent. This dispute has become a focal point of geopolitical tensions between the United States and China, with Panama caught in the rivalry between the two major powers.
The Panama Canal handles about 40% of U.S. container transportation. The subsidiary of CK Hutchison has been operating these ports since 1997 and was granted a 25-year extension in 2021. Last month, the Supreme Court of Panama ruled that the port concession of CK Hutchison's subsidiary was "unconstitutional," which the company strongly opposed and initiated an arbitration process.
China has suspended new project negotiations in Panama and advised shipping companies to reroute to other ports, warning Panama that it would pay a "heavy political and economic cost" if it does not change its position.
Original article: toutiao.com/article/1857005360144648/
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