Panama to Occupy CK Hutchison Canal Ports, Clouding Deal (1)

Panamanian President José Raul Mulino ordered the temporary occupation of two ports run by Hong Kong-based CK Hutchison Holdings Ltd. following a top court’s ruling against the firm’s concession, escalating a dispute that has become a proxy battle between the US and China in Latin America.

Mulino said in a speech Monday that the administration and operation of the two ports on the strategic Panama Canal will revert to the country’s National Maritime Authority to ensure their uninterrupted, safe and efficient operation. The occupation covers movable equipment at the ports and does not mean a definitive loss of ownership ...