Maersk and MSC to take temporary control of key Panama Canal ports

The case stemmed from lawsuits dating back to 2021 and a government audit in 2025 alleging irregularities © Martin Bernetti/AFP via Getty ImagesMaersk and MSC to take temporary control of key Panama Canal ports on x (opens in a new window)Maersk and MSC to take temporary control of key Panama Canal ports on facebook (opens in a new window)Maersk and MSC to take temporary control of key Panama Canal ports on linkedin (opens in a new window)Maersk and MSC to take temporary control of key Panama Canal ports on whatsapp (opens in a new window) Save Maersk and MSC to take temporary control of key Panama Canal ports on x (opens in a new window)Maersk and MSC to take temporary control of key Panama Canal ports on facebook (opens in a new window)Maersk and MSC to take temporary control of key Panama Canal ports on linkedin (opens in a new window)Maersk and MSC to take temporary control of key Panama Canal ports on whatsapp (opens in a new window) Save Milagro Vallecillos in Panama City and Jude Webber in DublinPublishedFebruary 23 2026UpdatedFebruary 23 2026Jump to comments sectionPrint this pageUnlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDanish shipping giant Maersk and Swiss-based MSC are to take over the operations of two key ports on the Panama Canal after their Hong Kong-based operator was ejected last month, the Panamanian government said on Monday.Panama’s Supreme Court last month annulled a contract with conglomerate CK Hutchison Holdings as operator of the Balboa and Cristóbal ports on the famous waterway after legal challenges. The case stemmed from lawsuits dating back to 2021 and a government audit in 2025 alleging irregularities.On Monday, the Panamanian government formally assumed control of the port facilities, including cranes, vehicles, computer systems and software, under a decree intended to guarantee their smooth operation until a new concession is awarded within 18 months. Under the plan, two shipping groups will temporarily operate the ports. A unit of AP Møller-Maersk will oversee the Balboa port on the Pacific side of the canal while the port wing of MSC will run the Cristóbal port on the Atlantic side.Maersk and MSC did not immediately respond to requests for comment. CK Hutchison’s Panama Ports Company unit said it had no immediate comment.MSC was part of a consortium, also including BlackRock, that struck a deal last year to take a 90 per cent stake in the unit that runs the two ports. The $23bn deal won praise from US President Donald Trump, who hailed it as a sign his administration was “reclaiming” the canal. But Beijing later insisted that China’s state-owned shipping giant Cosco should have a majority stake, prompting the buyers to reconsider.Alberto Alemán Zubieta, a former administrator of the canal who has been appointed to lead a technical team to oversee the transition period, said the arrangement did not imply an expropriation of the machinery and equipment at the two ports. “This is what is known as an occupation to guarantee that the ports can continue operating. We recognise that the equipment belongs to [a unit of Hutchinson],” he added.Hutchison has taken Panama to arbitration following the Supreme Court ruling and Beijing has warned that the Central American country will pay a “heavy price” for the decision. Beijing has invested substantial sums in Panama since the country switched diplomatic recognition from Taiwan in 2017.Labour minister Jackeline Muñoz said there would be “no lay-offs”.Additional reporting by Jamie John in LondonReuse this content (opens in new window) CommentsJump to comments section Follow the topics in this article Shipping Add to myFT Infrastructure investment Add to myFT BlackRock Inc Add to myFT AP Møller-Maersk AS Add to myFT Government of China Add to myFT CommentsDanish shipping giant Maersk and Swiss-based MSC are to take over the operations of two key ports on the Panama Canal after their Hong Kong-based operator was ejected last month, the Panamanian government said on Monday.Panama’s Supreme Court last month annulled a contract with conglomerate CK Hutchison Holdings as operator of the Balboa and Cristóbal ports on the famous waterway after legal challenges. The case stemmed from lawsuits dating back to 2021 and a government audit in 2025 alleging irregularities.On Monday, the Panamanian government formally assumed control of the port facilities, including cranes, vehicles, computer systems and software, under a decree intended to guarantee their smooth operation until a new concession is awarded within 18 months. Under the plan, two shipping groups will temporarily operate the ports. A unit of AP Møller-Maersk will oversee the Balboa port on the Pacific side of the canal while the port wing of MSC will run the Cristóbal port on the Atlantic side.Maersk and MSC did not immediately respond to requests for comment. CK Hutchison’s Panama Ports Company unit said it had no immediate comment.MSC was part of a consortium, also including BlackRock, that struck a deal last year to take a 90 per cent stake in the unit that runs the two ports. The $23bn deal won praise from US President Donald Trump, who hailed it as a sign his administration was “reclaiming” the canal. But Beijing later insisted that China’s state-owned shipping giant Cosco should have a majority stake, prompting the buyers to reconsider.Alberto Alemán Zubieta, a former administrator of the canal who has been appointed to lead a technical team to oversee the transition period, said the arrangement did not imply an expropriation of the machinery and equipment at the two ports. “This is what is known as an occupation to guarantee that the ports can continue operating. We recognise that the equipment belongs to [a unit of Hutchinson],” he added.Hutchison has taken Panama to arbitration following the Supreme Court ruling and Beijing has warned that the Central American country will pay a “heavy price” for the decision. Beijing has invested substantial sums in Panama since the country switched diplomatic recognition from Taiwan in 2017.Labour minister Jackeline Muñoz said there would be “no lay-offs”.Additional reporting by Jamie John in London