Court ruling quashes HK firm, casts cloud on Panama Canal's future operations

The Star

Panama's Supreme Court has annulled the concession allowing Hong Kong-based CK Hutchison to operate two major container ports at the entrances of the Panama Canal, raising questions over the future management of key logistics hubs along one of the world's most strategic trade routes.   The ruling that the concession violated the country's constitution and did not serve the public interest affected Panama Ports Company, a CK Hutchison subsidiary that operated the Balboa port on the Pacific side and the Cristobal port on the Atlantic side since the 1990s under contracts separate from the canal's operations.   WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00Welcome to Oster zawodaham.

00:02I'm here to go to the 죄ch section.

00:06I have friends and friends with your friends.

00:08We are all enjoying the record.

00:10I don't think they're all enjoying the record.

00:12And live tomorrow in memory

00:14with all of the toys.

00:16It's a very exciting day.

00:18This is my time to segue.

00:20We're going to be reproduced by a new piece.

00:22We're going to go to talk to the game.

00:24We're going to get started.

00:26It is important to note that until the failure is executed,

00:42there is a period of continuity of the current operator without any operative change.

00:49Then, begins a period of transition that culminates with a new concessions

00:57under terms and conditions favorables for our country.

01:01I have instructed the maritime authority to meet Panamá

01:05with the Panamaports to coordinate the necessary actions

01:11with the previously mentioned goals.

01:14We hope that the company, members of the Hutchinson Port

01:18and filial of the multinational CK Hutchinson Holdings

01:23with a global presence and celosa of its corporate reputation,

01:28will be open to this.

01:30I want to be clear to the workers.

01:33Their source of work is the most valuable asset of our terminales

01:38and is guaranteed.

01:40No will be produced.

01:42We have very clear in our communication

01:46that we need to maintain the flow operative of that charge.

01:50We have to guarantee that as a country

01:52that the charge that is currently in the country

01:55and the that is by coming, and the that is by coming,

01:58that is by coming, and that is by coming,

02:00that will flow inerrumped.

02:02We are aware that the State can do it

02:06and can do it in a way correct way.

02:08Yes, in a way, it was a surprise.

02:12At the time of a communication,

02:14what we expected was the complete information

02:18of the failure.

02:19So, for us, it was a surprise

02:21in a way, the communication.

02:23In a way, we were all aware of that

02:26there were legal processes

02:28for the concessions.

02:30But we, as the sector,

02:32we have to have more information about it.

02:34So, we are waiting for that

02:36of this complete failure

02:38with all the details.

02:40.

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