CK Hutchison Warns Maersk of Legal Action Over Panama Ports

By Foster Wong and Shirley Zhao

Feb 12, 2026 (Bloomberg) –CK Hutchison Holdings Ltd. has warned A.P. Moller-Maersk A/S of legal action should the Nordic company’s terminal unit try to take over operations at two ports near Panama’s strategic canal.

The warning came after authorities in the Central American nation invalidated CK Hutchison’s contract to operate the Balboa and Cristobal ports, seeking Maersk’s APM Terminals to run them in a transition phase.  

CK Hutchison has notified Maersk that taking over the operations of the two terminals without its agreement will cause damages to the group and “will result in legal recourse” against APM Terminals, the Hong Kong-based firm said in a statement Thursday.

Read more: Panama Strikes Down CK Hutchison Port Contract in Blow to China

While the court ruling hasn’t been published or come into force, a termination of CK Hutchison’s contract would render the operation of the two ports impossible, the company said in the statement. That’s because APM Terminals’ system may not be compatible to the Panama facilities, Hong Kong media Sing Tao Daily reported, citing people it didn’t identify.  

“At this stage, continued operation of the ports depends solely on actions of the Panama Supreme Court and the Panamanian State,” CK Hutchison said in the statement.

CK Hutchison also said it has invited consultations to resolve the dispute over the two ports and has notified Panama of its actions, without giving further details. The company has taken the case to the International Chamber of Commerce’s Court of Arbitration, a global body that handles major business and investment disputes, seeking “extensive damages.”

Read more: CK Hutchison Seeks Damages Via Arbitration on Panama Ports 

A spokesperson for Maersk in Copenhagen declined to comment on CK Hutchison’s warning and referred to the Danish company’s previous statement on the matter from Jan. 30 when it said it would follow all legal requirements and procedures in starting operations.

CK Hutchison’s warning signals a heightened effort to resist Panamanian authorities’ attempt to revoke its right to operate the two Panama ports — a dispute that has become a proxy battle in the US-China rivalry in Latin America. The ruling against the conglomerate founded by billionaire Li Ka-shing was praised by Washington but angered Beijing, which has retaliated by halting talks over new projects in Panama. 

The two ports are part of Li’s deal announced in March last year to sell 43 global facilities to a consortium backed by American investment firm BlackRock Inc. China blasted the move as yielding to US pressure and hurting its trade and shipping interests. To win Beijing’s approval, CK Hutchison later invited state-owned China Cosco Shipping Corp. to join the buyer consortium.

Panama’s ruling has added fresh uncertainty over the deal, which could net CK Hutchison more than $19 billion in cash if completed. Analysts have expected smaller valuation and proceeds following the dispute. Parties involved in the deal have been considering ways to move the discussions forward, including splitting the assets into separate parcels with different ownership structures, people familiar with the matter have said earlier. 

CK Hutchison said it remains fully committed to ensuring its local unit, Panama Ports Co., takes all steps reasonably available to protect its employees and avoid disruptions to port operations, according to the Thursday statement.

© 2026 Bloomberg L.P.

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