After Hutchison’s exit, global competition for control of Canal ports grows
Panama – The future concession of the Balboa and Cristobal container terminals, strategic hubs of the Panama Canal, is increasingly taking on the contours of a geopolitical challenge among major global operators. Following the revocation of concessions to Hong Kong-based CK Hutchison, US companies interested in the tender would find themselves at a strong disadvantage compared to European and Asian competitors.
The turning point came when Panama’s Supreme Court declared unconstitutional the contracts that allowed Hutchison to manage the Balboa terminal, on the Pacific, and Cristobal, on the Atlantic. These are two fundamental hubs for container transshipment between Asia, the Americas, and the east coast of the United States.
While awaiting the new international tender, the Panamanian government has temporarily entrusted operations to Apm Terminals, a subsidiary of A.P. Moller Maersk. The choice further strengthens the Danish group’s presence in one of the most strategic maritime corridors in the world.
Global operators such as Dp World, Terminal Investment Limited linked to Msc, Psa International, and International Container Terminal Services are expected to participate in the procedure.
According to sources cited by the industry, US companies like SSA Marine and Ports America could however be penalized by the technical and financial criteria established by the Panamanian authorities. The same sources claim that the evaluation system favors operators already established in the international container terminal market.
The matter is also intertwined with another strategic dossier in Brazil, where the port of Santos is preparing the tender for the new Tecon Santos 10 terminal, a 1.2 billion dollar project intended to add 3 million teu of capacity. In this case as well, according to rumors, Maersk is working behind the scenes to limit access for American operators.
Control of the Panamanian terminals takes on even more sensitive value in light of the increase in traffic through the Canal. In the first half of fiscal year 2026, over 6,200 convoys transited, with an increase in both passages and volumes handled compared to the previous year.
The issue highlights how the global container terminal market is now strongly tied to geopolitical balances. The United States, through statements by President Donald Trump, has reiterated its interest in maintaining direct influence along the Panama Canal, while European, Middle Eastern, and Asian operators seek to consolidate their presence in the main nodes of global logistics.
