On March 16, Panama Ports Company (PPC), a subsidiary of Cheung Kong and Hutchison Whampoa Limited, issued a statement accusing the Government of the Republic of Panama of continuing to take actions that undermine the confidence of foreign investors since it illegally took over the container terminals at the ports of Balboa and Cristóbal.

The company emphasized that the Panamanian side has “blatantly disregarded international arbitration procedures.”

According to the disclosure, the International Chamber of Commerce had originally set March 13, 2026, as the deadline for the Panamanian government to submit its response to the arbitration case; however, the Panamanian side failed to respond, citing the reasons that it “had not yet retained legal counsel” and was “unfamiliar with the dispute.”

Panama Ports Corporation pointed out that this statement clearly contradicts its previous public assertion that it “had spent a year planning to take over the port.”

The announcement provides a detailed account of the events that unfolded in late February: without prior notice, the Panamanian government dispatched armed personnel to forcibly enter two major port terminals, disrupting normal operations and seizing company documents, computer equipment, and legally protected proprietary information—including archives stored at a private storage facility.

Currently, these assets remain in Panamanian custody, and the company has been denied access to them. Even more perplexing is that, during the arbitration proceedings, the Panamanian side has demanded that Panama Ports Company file a claim to recover assets that rightfully belong to it.