China said to have demanded Maersk, MSC to exit Panama

 China's National Development and Reform Commission (NDRC) ordered shipping giants Maersk and MSC to stop operating two key ports on the Panama Canal in a March meeting, Financial Times reported on Wednesday citing sources close to the matter. The demand came shortly after Panama granted the European companies temporary control of the Balboa and Cristabal terminals.

The ports were previously run by Hong Kong's CK Hutchison, which lost its concession after a Panamanian court ruling. Beijing now warns Maersk and MSC against harming Chinese interests.

The media said the move is seen as an escalation of US-China rivalry over the vital waterway. If the European firms withdraw, US operators would likely take over, an outcome China views as even worse.

https://breakingthenews.net/Article/China-said-to-have-demanded-Maersk-MSC-to-exit-Panama/66070866