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CN Reportedly Asks Maersk, MSC to Forgo Panama Port Operations
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The Chinese government last week asked Maersk and Mediterranean Shipping Company (MSC) to forgo their takeover of operations at the Balboa and Cristobal ports along the Panama Canal, the Financial Times, citing sources, reported. In February, Panama’s official gazette published a Supreme Court ruling revoking the concession contracts for the Balboa and Cristobal ports held by Panama Ports Company (PCC), a subsidiary of CKH HOLDINGS (00001.HK), and transferring temporary operational control to Maersk and MSC. China purportedly requested Maersk and MSC not to engage in illegal activities that would harm the interests of Chinese companies, and to comply with business ethics and international rules. However, Maersk and MSC stressed that the temporary operating rights were obtained to maintain smooth trade flows through the Panama Canal. Auto-translated by AI AASTOCKS Financial News |
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