Hong Kong firm files arbitration against Maersk, saying it schemed with Panama over port takeover

A subsidiary of a Hong Kong-based conglomerate started arbitration proceedings against Danish logistics and port group Maersk, accusing the company of aligning with Panama in a scheme to take over its port operations on the Central American country's critical canal. The Panama P orts Company, a unit of Hong Kong’s CK Hutchison Holdings, said in a statement dated Tuesday that Maersk A/S had undermined a contract over its operations of ports at either end of the Panama Canal in order to pave the way for a new operator affiliated with Maersk to take over the Balboa terminal.