World April 30, 2026 04:25 PM

Panama President Says Port Contracts Caught Between US and China, Affirms Diplomatic Ties

Government defends transfer of long-held concessions and notes Beijing signaled arbitration route while detentions of Panama-flagged vessels in China rise

By Nina Shah
Panama President Says Port Contracts Caught Between US and China, Affirms Diplomatic Ties

Panama President Jose Raul Mulino said his country remains on good terms with China even as it becomes entangled in a dispute between Beijing and Washington over port concessions previously held by Hong Kong’s CK Hutchison. Mulino defended Panama’s decision to assume control of the ports, cited a "high-level" Chinese message confirming the dispute will go to international arbitration, and expressed concern about a surge in detentions and inspections of Panama-flagged ships in China.

Key Points

  • Panama affirms positive diplomatic relations with China while caught in a dispute between China and the US - markets impacted: international trade and geopolitics sectors.
  • Panama temporarily reassigned port operations to Maersk’s APM Terminals and MSC’s TIL Panama after a Panama Supreme Court decision affected CK Hutchison’s concessions - markets impacted: shipping, ports and terminal operators, logistics.
  • China acknowledged the dispute will be addressed in international arbitration and signaled it is not a bilateral government issue; Panama reports increased detentions of Panama-flagged ships in China - markets impacted: maritime insurance, shipping registries, and global trade flows.

Panama’s president said his government is seeking to keep bilateral relations with China intact even as the country finds itself swept up in a dispute between two global powers over control of strategic port contracts.

Speaking at a regular press conference, President Jose Raul Mulino described a recent communication from Beijing as "high-level" and said it acknowledged Panama’s contention that the disagreement over port concessions will be resolved through international arbitration courts. Mulino said the message, delivered by China’s ambassador in Panama, indicated that the issue did not amount to a dispute between the Panamanian and Chinese governments.

At the same time, Mulino raised alarm about an increase in detentions and inspections of Panama-flagged vessels in China. He framed Panama’s predicament as being carried along by the spillover from a larger problem between the United States and China. "We are, in a way, being carried along like a tide by the outcome of a problem between two major powers, the United States and China," Mulino told reporters.

The focal point of the controversy is the entrance to the Panama Canal, which handles about 5% of global maritime trade. Control of ports that serve the canal has become a geopolitical flashpoint between Washington and Beijing.

CK Hutchison, operating through its local unit Panama Ports Company, had held port concessions at the canal entrance for nearly three decades. Those concessions were effectively lost after a Panama Supreme Court decision in January that was widely seen as related to U.S. pressure to curtail Chinese influence over the strategic waterway.

In the wake of the ruling, Panama moved to transfer temporary port operations to Maersk’s APM Terminals and MSC’s TIL Panama. Panama Ports Company has said it will contest the transfer through international arbitration and accused the Panamanian government of a wrongful takeover.

"We did not expropriate the ports, we took over the ports because they were left without a contract,"

Mulino reiterated that line and added, "I have no interest in escalating this problem with China." He nevertheless made clear he was troubled by what he described as "unusually high numbers" of Panama-flagged vessels being detained in China.

The situation drew international attention this week when the United States and allied governments issued a joint statement voicing support for Panama’s sovereignty. China responded by calling that statement misleading and accused the U.S. of politicizing the ports.

Mulino said he has not reached a decision on additional steps and stressed his desire to avoid escalation. "I do not want this to escalate due to a geopolitical conflict, and for our Panamanian-flagged vessels to be used to try to apply pressure," he said. "I believe that is not fair."


Context and implications

For Panama, the dispute ties directly to the administration of assets that sit at the entrance to a waterway responsible for a significant portion of global maritime commerce. The legal pathway referenced by both Panama and China - international arbitration - will determine whether the government's takeover is upheld or reversed. In the interim, operational control has been placed with major global terminal operators while the prior concessionaire pursues legal remedies.

Risks

  • Escalation of detentions and inspections of Panama-flagged vessels in China could pressure Panama’s shipping registry and carrier operations - sectors at risk: shipping, maritime insurance, and registries.
  • Legal uncertainty while international arbitration proceeds could disrupt port operations and trade throughput at canal entrance terminals - sectors at risk: ports and terminal operators, global logistics, and trade-dependent industries.
  • Geopolitical friction between the United States and China over influence near the Panama Canal may create volatility for operators and investors linked to port concessions and container shipping - sectors at risk: shipping lines, port operators, and related supply-chain finance.

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