HONG KONG – A branch of a Hong Kong-based corporate giant has initiated arbitration against the Danish logistics and port powerhouse, Maersk. The accusation centers around Maersk allegedly collaborating with Panama in a strategic maneuver aimed at seizing control of the Hong Kong firm’s port operations linked to the vital canal in Central America.

In an announcement released on Tuesday, the Panama Ports Company, a division under Hong Kong’s CK Hutchison Holdings, claimed that Maersk A/S had violated their contract. The alleged breach was said to be a tactic to facilitate the takeover of the Balboa terminal by a new operator connected to Maersk, affecting the company’s management of ports on both sides of the Panama Canal.

The arbitration is set to take place in London, although the specific resolutions sought by the company remain undisclosed.

Back in February, Panama’s government assumed control of the Balboa and Cristobal ports following a Supreme Court ruling that deemed the Panama Ports Company’s concession as unconstitutional. This decision sparked criticism from China.

Subsequently, the Panamanian authorities authorized affiliates of Maersk and the Mediterranean Shipping Company to manage operations at these key ports.

In response, Panama Ports Company pursued arbitration against Panama in February. By late March, the company expanded its claims, reporting that damages had surged to exceed $2 billion.

It said on Tuesday that its claim against Maersk is separate from its ongoing steps to hold Panama accountable for what it called “anti-contract and anti-investor conduct.”

Neither Panama’s government nor Maersk immediately commented.

The legal actions could further complicate CK Hutchison’s initial plan to sell the bulk of their dozens of global ports, including the two Panama ports, to a consortium that involved U.S. investment firm BlackRock in a $23 billion deal.

The sale plan, first announced in March 2025, pleased U.S. President Donald Trump, who has alleged Chinese interference with the critical shipping lane’s operations. But the planned sale apparently angered Beijing, and China’s antitrust regulator last year said it would initiate a review of the deal.

The parties involved in the deal have since been looking for ways to move forward with the sale, including considering plans to add a Chinese investor to the consortium.