Panama court strikes down Hong Kong firm’s canal port contract

Panama’s top court on Thursday night, Jan. 30, 2026, ruled that the port contract held by Hong Kong conglomerate CK Hutchison was unconstitutional, the court said in a short statement. The company, owned by Li Ka-shing, operates the Balboa and Cristobal ports at either end of the Panama Canal, and its Hong Kong-listed shares fell by more than 4 percent.

The court said its ruling followed "extensive deliberation" after a lawsuit brought by the Panama government that alleged audit irregularities. CK Hutchison has operated the Balboa and Cristobal ports since 1997. CK Hutchison had agreed to sell the two Panama ports as well as 40 others to a consortium of investors led by BlackRock.

The Times reported that it was not yet clear how the ruling would affect that deal, and representatives for BlackRock and CK Hutchison did not immediately respond to requests for comment. The Panama Canal handles an estimated 5 percent of the world’s seaborne trade. The decision could, "on the face of it," hand President Trump a victory, the Times reported; Mr.

Trump has frequently said he wants the United States to retake control of the canal and has taken other actions to assert American power in Latin America. After CK Hutchison announced the sale last year, Beijing subjected the transaction to regulatory review and the company later said it might invite a Chinese investor; Chinese media reported that the investor was COSCO.

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