CK Hutchison Holdings has initiated arbitration in London against A.P.
Moller-Maersk following Panama’s takeover of its Balboa and Cristobal ports,
according to a company statement. The case, filed by its unit Panama Ports Co.,
is separate from a more than $2 billion damages claim against the Panamanian
government. The dispute escalates tensions after Panama appointed Maersk’s APM
Terminals as interim operator of one port. The takeover has become entangled in
US-China tensions, with Beijing opposing the move and related asset sales. CK
Hutchison’s plan to sell 43 global terminals for over $19 billion to a
consortium including BlackRock and MSC remains uncertain amid geopolitical and
legal risks.
