On Thursday, the Panamanian judiciary stripped Hong Kong company CK Hutchison of key rights to operate port facilities in the area.
The Danish AP Møller-Mærsk subsidiary will become the "temporary administrator" for the two ports in question, the canal authority announced on Friday evening.
China’s Foreign Ministry said it intends to "resolutely protect the legitimate rights and interests of Chinese companies."
The Panama Canal is geopolitics at the highest level. President Donald Trump has claimed that the vital trade route is controlled by China and vowed that the United States will "take it back."
The decision is welcomed by the United States, writes Secretary of State Marco Rubio on X.
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