China told Maersk and MSC to drop Panama port operations, FT reports

The U.S. Federal Maritime Commission (FMC) monitoring a surge in detentions of Panama-flagged vessels in China that appears tied to a Panama court ruling against Hong Kong-based CK Hutchison. Panama's ​Supreme Court in late January invalidated the legal framework supporting the 1997 concession granting CK Hutchison's Panama ​Ports Company the right to operate the Balboa and Cristobal terminals on the Pacific ⁠and Atlantic sides of the Panama Canal.

Better article: https://www.ft.com/content/91d60b9e-374d-4dc3-bd57-3cfb3221f400?syn-25a6b1a6=1

The Chinese strategy is simple. As the biggest export nation it is telling ships to change their flag from Panama to Liberia. This will cost Panama $500 million usd per year. Not much those in Panama can do. Perhaps a more diplomatic approach to seizing the ports from China without paying restitution in damages would have led to a better outcome. The Chinese invested heavily in these ports expecting return on investment.

Just flip China off.

Nobody cares what China thinks regardless of all the bots and trolls infesting listnook.