Thank you to Lyndal Rowlands and News Agencies Aljazeera for the Headline
Panama’s Supreme Court has ruled that the Hong Kong based shipping Company C K Hutchinson (such a British Name) will no longer have the right to control the entry and exit to the Panama Canal and as an interim measure the running of the ports will be taken over by Maersk the Danish Shipping Giant.
In terms of the employment of local Panamanians working in the ports this will mean significant insecurity. Who will be responsible for paying them and will their conditions of work change significantly. Will more automation be introduced? Who cares, at least it’s not in Chinese hands anymore?
“Shadow tankers” supplying oil to Countries that have had worldwide sanctions applied to them have been the bugbear of the United States and puts into perspective the actions of the United States recently with the kidnapping of the President of Venezuela and the agreements now in place to allow Venezuela to produce and ship oil in partnership with the United States. The control of the Panama Canal is now in Danish hands, not sure if this has anything to do with Greenland, maybe it’s some kind of concession. Here you have the Panama Canal and we can have Greenland. Watch this space.
Either way the Chinese aren’t very happy about it but Victor Li the President of CK Hutchinson has experience of being kidnapped himself while a young man in Hong Kong, his father paid a ransom 1 billion HK$1 to get him free , he was held for one night. The Hong Kong gangster responsible for the kidnapping was later executed by Mainland China , which would not have been possible under the then Hong Kong jurisdiction, so it is probable that there is a close relationship between the Hong Kong Company and the Chinese Authorities.
Panama itself was caught between a rock and a hard place, but perhaps it was a bit strange not to review the contracts and the working of the canal with more care and they shouldn’t have just been automatically renewed for long periods without any bidding process.
Namaste and Thank You for Reading. 🙏
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