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Panama Officially Scraps CKH's Concession Contract; Related Ports Taken Over
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Panama's government gazetted a Supreme Court ruling yesterday (23rd), revoking the concession contract held by CKH HOLDINGS (00001.HK)'s subsidiary Panama Ports Company (PPC) for the Balboa and Cristobal ports, paving the way for temporary takeover by APM Terminals, a subsidiary of Maersk. The Panama Maritime Authority (AMP) has taken over the operation of the two ports through a decree to ensure their operation and is submitting two separate contracts to the AMP Board of Directors, each concerning one of the ports involved. AASTOCKS Financial News Website: www.aastocks.com |
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