Today, Hong Kong-based CK Hutchison Holdings (CKHH) Group confirmed that already yesterday, when the President José Raúl Mulino, has signed a decree which seized the assets and equipment of the Balboa and Cristóbal ports ( of 23 February 2026), in the terminals of the two ports of call that until yesterday the Chinese group had managed through its subsidiary Panama Ports Company (PPC) have entered state representatives who have assumed administrative and operational control of PPC terminals by excluding PPC representatives from the terminal. C.K. Hutchison explained that government representatives informed the PPC staff that the concession through which the Panama Ports Company managed the terminal no longer existed and that PPC had to cease its operations. In addition, the Chinese group specified, they have ordered that PPC employees be ousted from PPC, required them not to communicate with the PPC and to comply government instructions, under threat of prosecution criminal offences. The action also led to the blackout of the website of the Panama Ports Company.

Denouncing that, therefore, the Panamanian State now has the control of the terminals of the two ports, C.K. Hutchison reiterated that The seizure of the terminals comes at the culmination of a campaign conducted by the in the last year by the State of Panama against the PPC and its concession contract. CKHH specified that it believes that the latter must be considered resolved from yesterday following government acts, statements by Panamanian officials and the acquisition of terminals by the State.

In addition, CKHH reiterated that it believes that the judgment of the Panama's Supreme Court of Justice which declared the unconstitutionality of the law on the concession contract ( of 30 January 2026), as well as the executive decree signed yesterday by President Mulino, the alleged resolution of the concession of PPC and the acquisition of terminals are illegitimate. The group of Hong Kong highlighted that "the actions of the State of Panama, In addition, they pose serious risks to operations, health and for security at the Balboa and Cristóbal terminals» and that "none of the actions of the State of Panama is or coordinated with the PPC' and therefore underlined that 'the State of Panama is responsible for the damage caused by the confiscation actions undertaken".

The Hong Kong group concluded that "PPC and CKHH continue to consult with their legal advisors on this matter to the sentence and the forced seizure, to the alleged resolution of the PPC and all available remedies, including further national and international legal proceedings against the Republic of Panama and its agents and third parties colluding with them, to reserve all rights and remedies against them in relation to that matter'.

Meanwhile, in the past few hours, the Panamanian Council of Ministers has approved two resolutions authorizing the Autoridad Marítima of Panama (AMP) to the negotiations undertaken for the management of the transitional operation of the two ports with international companies in order to ensure continuity of operations, maintenance and the administration of the ports of Balboa and Cristóbal. A Resolution approves the transitional concession contract for the management of the port of Balboa for up to 18 months between the MPA and the company APMT Panamá, a subsidiary of the terminal operator APM Terminals of the Danish shipowning group A.P. Møller-Mærsk. The second resolution approves the concession contract for the management of the port of Cristóbal for a period of up to 18 months between the MPA and TIL Panama, subsidiary of Terminal Investment Limited (TiL) which is part of the Swiss shipping group Mediterranean Shipping Company.