The company said it strongly disagreed with last week’s ruling, and China warned Panama would pay “a heavy price” if it persisted. Panama has said the two ports at each end of the canal — a critical passage for global trade that links the Atlantic and Pacific oceans — would operate without interruption after the ruling, which was seen by some as a win for the U.S. President Donald Trump administration’s goal of blocking Chinese influence over the canal.
Panama Ports Company, the subsidiary under CK Hutchison that operates the ports, began arbitration proceedings Tuesday under the rules of the International Chamber of Commerce. It’s unclear what the impact of the proceedings would be and how long they could take.
