Hong Kong’s CK Hutchison Holdings Limited (CKHH) said on Tuesday that its subsidiary Panama Ports Company expanded the claims against Panama one month after the state’s takeover of ports and property.
Panama Ports Company S.A. (PPC), which operated the Balboa and Cristóbal port terminals, said it expanded its international arbitration claims against the Republic of Panama one month after the state’s takeover of terminals at the ports of Balboa and Cristóbal and occupation of the property of PPC.
In Tuesday’s statement, PPC said it had expanded its claims based on damages that have now escalated beyond $2bln. The company supplemented its claims in a filing on March 24, 2026.
The move followed a ruling earlier this year by a top court in Panama declaring the concession granted to Panama Ports Company to operate the ports at the Panama Canal “unconstitutional” – terminals it had managed under the concession contract since 1997.
Furthermore, CKHH said in its statement that on Feb. 23 the official gazette of Panama published the ruling of the Supreme Court of Justice of Panama regarding law no. 5 of January 16, 1997, originally announced on January 29, 2026 (the ruling), and an executive decree issued by the President of Panama.
CK Hutchison describes the takeover of the terminals as “unlawful,” in a statement issued on Tuesday, March 24.
The arbitration is proceeding under the rules of the International Chamber of Commerce Court of Arbitration, PPC said.
The legal fight has become part of a broader diplomatic and commercial dispute following Panama’s cancellation of the concession in line with a Supreme Court ruling in late February.
