A Backlog at Panama Canal
The war underway in the Middle East brought more activity to the Panama Canal. One ship carrying liquified natural gas paid $4 million to jump the line and avoid a wait that could last up to five days. There’s a…
Articles tagged under: Panama Canal
Panama Canal Traffic Rises with Fuel Prices
Rising fuel and freight costs tied to the conflict in the Middle East are sending more global shipping traffic through the Panama Canal. Canal officials say higher oil prices are making the shorter route between the Atlantic and Pacific Oceans…
Panama Boots Chinese Company From Port
Panama has seized control of the port facilities previously operated by a Chinese company. CK Hutchinson, who managed the two facilities on the Panama Canal, is taking legal action to prevent the takeover. President Trump has criticized China’s presence at…
Legal Blow to China’s Influence at the Panama Canal
China’s bid to operate ports at either end of the Panama Canal has taken a huge blow. The Supreme Court of Panama determined that the terms under which the Hong Kong company has run the ports are unconstitutional. This ruling…
China Demands Control in Panama Port Deal
President Trump’s effort to curb China’s influence over the Panama Canal is facing a major setback as negotiations over a massive global ports deal have stalled. China is demanding that its state-backed shipping company, COSCO, receive a controlling stake in…
China May Block Panama Canal Deal
China is threatening to blow up a proposed sale of the Panama Canal and more than 40 other ports around the world. China wants the state-owned COSCO Shipping Corporation to be an equal partner in the deal. The Chinese involvement…
Panama Canal MOU Signed
After two days in Panama City, Defense Secretary Pete Hegseth signed a memorandum of understanding with Panamanian leaders regarding the Panama Canal. With this agreement, Panama will reimburse U.S. ships for any transit fees through this important trade route. In…
Reclaiming the Panama Canal
The Pentagon is reportedly looking at ways to increase the number of U.S. troops in Panama to safeguard access to the Panama Canal. President Donald Trump has claimed China has too big of a presence and the U.S. needs to…
U.S. Group Purchases Panama Canal Ports
The United States now controls the two ports on each end of the Panama Canal. A group of investors, led by BlackRock, agreed to take majority ownership paying Hong Kong-based CK Hutchinson nearly $23 billion. President Trump voiced security concerns…
Rubio Focuses on Panama Canal During His First International Trip
Secretary of State Marco Rubio made a quick weekend trip to Panama, telling the Panamanian president to reduce China’s presence at the Panama Canal or face the U.S. takeover of the waterway. Panama’s president said the ownership of the Panama…
