The U.S. Federal Maritime Commission says the move appears “intended to punish Panama“ over its ruling against CK Hutchison.
China is detaining Panama-flagged vessels in greater numbers amid an escalating row over terminals on either side of the Panama Canal, in what U.S. officials have described as a retaliation. Nearly 70 ships linked to the Central American country have been held for inspections at Chinese ports since March 8, according to a Thursday report by maritime analysis outletconcession previously awarded to a subsidiary of the Hong Kong-based conglomerate CK Hutchison for the terminals at Cristóbal and Balboa.
The ruling followed pressure from U.S. President Donald Trump, who shortly after taking office railed against China's influence in the Western Hemisphere and the canal in particular, vowing to"take it back." China warned that Panama would pay"a heavy price" and has responded with what appear to be retaliatory steps, including instructing state-owned enterprises to halt new investments in the country and summoning the foreign shipping firms appointed to serve as interim operators of the two ports.Lloyd's List"China has now imposed a surge in detentions of Panama-flagged vessels in Chinese ports under the guise of port state control, far exceeding historical norms," Commissioner Laura DiBella said in a statement."These intensified inspections were carried out under informal directives and appear intended to punish Panama after the transfer of Hutchison's port assets." She added that Panama-flagged vessels carry a"meaningful" share of U.S. containerized trade and that China's actions could have significant consequences for U.S. shipping. The development follows an announcement by Chinese state-owned shipping giant Cosco, the world's fourth-largest by market share, that it wasat the Port of Balboa. The move came 15 days after Panama Ports Company , the CK Hutchison subsidiary, was PPC has initiated legal action over what it called an"unlawful takeover," citing damages exceeding $2 billion. "The State has continued to choose a path of conflict and has not coordinated regarding access to property or compensation, instead making inaccurate statements regarding PPC and its property," the company said in a statement shared withIt added:"In a chilling signal to foreign investors, Panama is seeking to slow the arbitration, drag into the case parties that are not a part of the applicable contract, and continue its attack campaign, as PPC had warned.", ours is different: The Courageous Center—it's not"both sides," it's sharp, challenging and alive with ideas. We follow facts, not factions. If that sounds like the kind of journalism you want to see thrive, we need you., you support a mission to keep the center strong and vibrant. Members enjoy: Ad-free browsing, exclusive content and editor conversations.
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