News
Thursday 17th April 2025.
April 16, 2025
The Panamanian ports located in Balboa and Cristobal, managed by the company CK Hutchinson , could be separated from the rest of the global purchase agreement with BlackRock and Mediterranean Shipping Company (MSC), which would initially acquire 41 and not 43 port terminals on five continents, according to the specialized media Bloomberg .
This, while the geopolitical tensions between the United States and China that have hampered the operation are resolved.
According to a Bloomberg article , Global Infrastructure Partners (GIP), BlackRock’s infrastructure arm, is the majority shareholder in Panama’s ports.
It should be remembered that the Panamanian State is currently a minority shareholder, with 10%.
Under the original agreement, MSC subsidiary Terminal Investment Limited (TiL), led by Italian billionaires Gianluigi and Diego Aponte , would gain a 51% stake in the global port assets, while BlackRock would own 49%.
This portion of the agreement includes container terminals in the Netherlands, Germany, Malaysia, and other countries.
China has expressed its opposition to the sale of the two Panama ports by Hutchison, and a recent audit by the Comptroller General’s Office revealed that the country has lost approximately $1.337 billion in revenue from contracts signed between the State and Panama Ports Company (PPC) , following a disadvantageous negotiation of the concession contract signed with the latter company.
Bloomberg claims the Chinese government has told Hutchison and TiL that the sale of the global assets would not pose a problem, although it is still subject to regulatory review in other countries.
BlackRock CEO Larry Fink confirmed that the transaction is still considered a single agreement that includes the Panama terminals. However, he acknowledged that the process could take at least nine months due to international regulatory reviews.
“We’ll see how this all plays out. I’m quite optimistic that we’ll find a solution,” Fink said during an Economic Club of New York luncheon.
The outlet also reveals that while Fink was the main intermediary in the deal with the White House, 84-year-old Gianluigi Aponte was the one who initiated the talks with Li Ka-shing.
The two businessmen had held informal discussions about Hutchison’s port assets before the Canal dispute arose. They met several times in Italy and Hong Kong, and Li’s family was invited to the Aponte resort near Naples on several occasions.
Recently, President José Raúl Mulino reported that Panama is awaiting official confirmation regarding the sale of the port concession.
“We are in communication with all three parties: the potential buyers and the seller. Everything indicates that the process will move forward. Once it is finalized, we will be formally notified, since Panama must approve this transaction, as established by law and the contract,” Mulino stated during his weekly press conference.
The commercial transaction for the sale of CK Hutchison’s port assets to BlackRock is estimated at approximately $ 22.8 billion .
Carlos Ruiz Hernández resigned as Deputy Minister of Foreign Affairs.
The resignation became effective on Tuesday, April 15, when Foreign Minister Javier Martínez Acha accepted it .
The Foreign Ministry announced the news in a statement released Wednesday, thanking the president for his “dedication in the performance of his duties.” However, they did not provide details of the reasons that led Ruiz Hernández to leave office.
A video captured in the institution’s hallways shows a group of Foreign Ministry staff applauding Ruiz Hernández as he bids farewell.
His resume highlights an extensive track record in international law, global public policy, and strategic project management.
He played an active role during the crisis between Panama and the United States, stemming from President Donald Trump’s attempts to regain control of the Panama Canal , citing alleged Chinese interference in its operation, a claim Panama has repeatedly denied.
In late January of this year, days before U.S. Secretary of State Marco Rubio ‘s visit to Panama , Ruiz-Hernández met with Michael Kozak, the State Department’s Secretary for Western Hemisphere Affairs, to try to ease tensions on the matter.
On April 13, days after U.S. Secretary of Defense Pete Hegseth’s visit to Panama, Ruiz Hernández published an opinion piece in La Prensa entitled “Defending Sovereignty with Strategy.”
There he referred to the memorandum of understanding and the joint declaration that Panama signed with the Secretary of Defense.
“In recent days, a heated debate has erupted over the omission of a phrase from the English version of a joint statement between Panama and the United States Department of Defense. It is a politically very significant statement: “ the clear and forceful recognition of our country’s inalienable sovereignty over the Panama Canal .”
Some have interpreted his absence as a deliberate insult, an affront to our history, and a supposed violation of the principles of the Neutrality Treaty. From this Foreign Ministry—where defending sovereignty is a daily duty and a deeply held conviction—I must disagree,” he wrote.
The documents signed by the two countries have sparked widespread debate in the country, with some arguing that they interfere with sovereignty.
Kevin Marino Cabrera was confirmed this Wednesday, April 16, 2025, as the United States ambassador to Panama.
“Honored to have been sworn in as our nation’s ambassador to the Republic of Panama,” Marino Cabrera expressed on his X account, after taking the oath before Secretary of State Marco Rubio .
“We look forward to working together to advance President Trump’s America First agenda and ensure that our policies make the United States a safer, stronger, and more prosperous country,” the diplomat added.
On social media, Marino Cabrera posted images of the formal ceremony with Rubio.
In addition, the United States Embassy in Panama also announced the swearing-in ceremony with an image alongside U.S. President Donald Trump .
Marino Cabrera must present his diplomatic credentials to the Panamanian government.
Marino Cabrera, 34, was announced by Trump on December 25, 2024, as ambassador to Panama.
“I am pleased to announce that Kevin Marino Cabrera will serve as the United States Ambassador to the Republic of Panama, a country that is ripping us off on the Panama Canal beyond their wildest dreams,” Trump posted on the social media platform Truth at the time.
Mario Cabrera was ratified on April 9 by the United States Senate as ambassador to Panama.
Since last December, diplomatic relations between Panama and the United States have been tense after Trump referred to alleged Chinese influence in the management of the Panama Canal, something the Panamanian government has repeatedly refuted.
The Third Administrative Litigation Chamber of the Supreme Court of Justice ordered the National Police to pay $35,000 in compensation to citizen Máximo Tejada Sosa for the poor provision of public services.
Under the ruling of Judge Carlos Alberto Vásquez , the Third Chamber decided to accept the claims of the lawsuit filed by attorney Rubén Danilo Velasco, representing Tejada Sosa.
The lawsuit stems from a case involving the crime of deprivation of liberty against Tejada Sosa, in which three National Police officers were convicted.
Initially, the claim was for $1 million, but the Third Chamber judges only recognized economic damages in the amount of $35,000.
This is not the first conviction imposed on the National Police for poor public service delivery. In November 2019, the Third Chamber ordered it to pay $20,000 to Anthony and Stephanie Rojas, who were kidnapped by two police officers.
Likewise, in December 2013, the police were ordered to pay $298,500 in damages to a woman traveling on public transportation in San Miguelito.
The incident occurred in 2004 in San Miguelito, when Police Corporal Juan Serrano fired a shot at the windshield of a bus as the driver attempted to flee.
Miami, Medellín, Bogotá, Punta Cana, Cancún, and Orlando are often some of the most popular destinations among Panamanians and residents for short trips of four to five days.
During these Holy Week days, Tocumen International Airport estimates that between 7,500 and 8,500 passengers will depart the terminal per day, originating in Panama, especially between this Wednesday and Holy Thursday , with the return scheduled between Sunday and the following Monday.
The airport’s operations manager, Claudio Dutary, noted that although passenger flow is highest during Carnival, they are also preparing for a high influx of travelers during this Easter season.
Added to this flow of passengers departing from Panama are transit travelers who use the terminal as a stopover on their way to other destinations.
Dutary mentioned that there are days when more than 55,000 people use the terminal, with a total of between 430 and 450 daily flight operations between takeoffs and landings.
Most flights are destined for the United States, Colombia, the Dominican Republic, and Mexico, with departures from early morning until late evening. Furthermore, the flow of travelers continues to transatlantic destinations such as Madrid, Paris, Istanbul, and Amsterdam, whose flights typically depart at night for Europe.
Last March, Tocumen Airport handled a total of 1.69 million passengers , representing a 2.9% increase compared to the same month last year.
For this season, authorities recommend that travelers arrive two to three hours early if their destination is international, and confirm with their airline which terminal they should check their baggage from to avoid any inconveniences.
The National Energy Secretariat announced the new fuel prices , which will take effect this Friday, April 18.
95-octane gasoline will drop 4 cents per liter to $0.91 ($3.44 per gallon), while 91-octane gasoline will also drop 4 cents to $0.84 per liter ($3.18 per gallon).
Regarding low-sulfur diesel , it is reported that it will also drop 4 cents and its price will be $0.77 ($2.91 per gallon).
The new fuel prices will go into effect at 6:00 a.m. this Friday, April 18, until 5:59 a.m. on Friday, May 2, 2025.
The price announcement coincides with the commemoration of Holy Week, a time when significant vehicle traffic is expected to different regions of the country.