LatinNews Daily - 11 March 2026

*Chinese shipping giant Cosco has announced that it has suspended its services at Panama’s Balboa port on the Panama Canal. Along with the Canal’s Cristóbal port, Balboa previously belonged to Panama Ports Company (PPC), a subsidiary of Hong Kong-headquartered CK Hutchison Holdings. However, last month Panama’s government led by President José Raúl Mulino formally assumed control of the two ports following a supreme court ruling (CSJ) striking down the concessions. The move was widely considered a victory for the US government led by President Donald Trump which has been seeking to curb Beijing’s influence in the region. According to a Cosco statement published in national daily La Prensa, all of Cosco’s departures and arrivals at Balboa port will be halted, with all confirmed bookings to be cancelled, although cargo that has already arrived will be processed as normal. The move follows China’s threat that Panama would pay “heavy prices” in response to the CSJ ruling.

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