CK Hutchison says ‘forced termination’ of Panama ports cut 1% off throughput

CK Hutchison Holdings disclosed that the "forced termination" of operations at two Panama Canal ports resulted in a 1% decrease in throughput during the first half of the year, despite the overall port portfolio outperforming the previous year. In its half-year financial results, the Li Ka-shing family-owned conglomerate quantified the impact of losing the ports, which were taken over by the Panama government following a nullified operating contract in late February 2026.

Overall throughput declined by 1% year-on-year to 43.6 million TEUs. An 8% growth in storage income from Oman and Pakistan was offset by a 1% reduction in overall throughput due to the Panama operations. Excluding Panama, throughput increased by 3% year-on-year, driven by terminals in Shenzhen’s Yantian, Shanghai, and other Asian ports.

The Middle East conflict also provided a slight benefit. Despite the Panama port loss, port earnings before interest, taxes, depreciation, and amortisation rose 4% to HK$9.03 billion (US$1.15 billion), and earnings before interest and taxes increased 3% to HK$6.73 billion from the same period last year. Port revenue grew 4% to HK$24.52 billion.

CK Hutchison expects the ports portfolio to achieve earnings growth for the full year due to its geographically diversified portfolio and focus on productivity and cost efficiencies.