Panama Ports Company (PPC) is seeking \u201cextensive damages\u201d after launching arbitration proceedings against the government of Panama following the decision of the country\u2019s Supreme Court last week to void the company\u2019s concessions to operate the Cristobal and Balboa ports. PPC had held the concessions for 28 years.<\/p>\n
The port company, 90% controlled by Hutchison Port Holdings, a subsidiary of Hong Kong-listed conglomerate CK Hutchison, said Wednesday the Panamanian government has already started to take control of the terminals that bookend the Panama Canal even though the court decision has yet to be published and finalized.<\/p>\n
\u201cThe steps taken by the state have included unexpected site visits and instructions that PPC provide unrestricted access to physical, commercial, and intellectual property and information, as well as to employees, on the basis that the state is systematizing and executing a port transition plan through coordinated actions of state authorities,\u201d PPC said in a statement.<\/p>\n
APM Terminals (AMPT), which was appointed by the Panama Maritime Authority\u00a0as interim administrator of the two terminals a day after the court\u2019s decision, would not comment on whether it had taken part in the site visits or other actions following the court ruling.<\/p>\n
\u201cAt this moment, we have no further comments to share other than what we have released on our website,\u201d an APMT spokesperson said. \u201cFor any next steps we refer to the relevant authorities in Panama.\u201d<\/p>\n
CK Hutchison on Wednesday said it \u201ccontinues to consult with its legal counsel and reserves all rights, including recourse to additional national and international legal proceedings.\u201d<\/p>\n
Details please refer to the JOC news.<\/em><\/p>\n Source: JOC<\/p>\n","protected":false},"excerpt":{"rendered":" Panama Ports Company (PPC) is seeking \u201cextensive damages\u201d after launching arbitration proceedings against the government of Panama following the decision of the country\u2019s Supreme Court last week to void the company\u2019s concessions to operate the Cristobal and Balboa ports. PPC had held the concessions for 28 years. The port company, 90% controlled by Hutchison Port …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[78],"tags":[84,102],"class_list":["post-3469","post","type-post","status-publish","format-standard","hentry","category-news","tag-maritime","tag-supply-chain"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/3469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/comments?post=3469"}],"version-history":[{"count":1,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/3469\/revisions"}],"predecessor-version":[{"id":3470,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/posts\/3469\/revisions\/3470"}],"wp:attachment":[{"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/media?parent=3469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/categories?post=3469"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ems.cohesionfreight.com.hk:8080\/wordpress\/wp-json\/wp\/v2\/tags?post=3469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}