The Hong Kong company CK Hutchison has formally requested the Government of Panama to open negotiations regarding the operation of the port terminals located at both ends of the Panama Canal. In statements issued on the Panamanian Radio Red, Panama Ports Company (PPC) spokesperson Alejandro Kouruklis indicated that the company is willing to "renegotiate absolutely everything" related to its concession to operate the Balboa and Cristóbal terminals.
"We request that a dialogue take place between CK Hutchison and the representatives of the Executive to seek a reasonable solution to the Tribunal's decision," Kouruklis stated, who warned that without concrete steps to maintain activity, "chaos will erupt overnight."
The situation escalated last month when the Supreme Court of Panama declared unconstitutional the law that supported the original concession. Since then, Hutchison has alternated between statements defending its operations and threats of legal action. The governments of Hong Kong and China have publicly condemned the decisions of the Panamanian authorities, calling them politically motivated.
The concession was first granted in 1997 and renewed in 2021 for a period of 25 years through a direct awarding process without competitive bidding. CK Hutchison owns 90% of Panama Ports Company, with the remaining 10% belonging to the Panamanian state. The company claims to have made multimillion-dollar investments in the port facilities throughout its management.
