Panama Takes Control of Canal Ports From CK Hutchison After Ruling

Panama seized the Balboa and Cristóbal port terminals from the Hong Kong-based CK Hutchison after the Supreme Court declared concession contracts unconstitutional.President José Raúl Mulino announced that APM Terminals and Terminal Investment Ltd will manage the ports during a transition while CK Hutchison seeks arbitration.The move follows accusations from Donald Trump regarding Chinese influence over the Panama Canal, which handles 5% of global trade and 40% of US container traffic.