Panama Ports Company S.A. (PPC) advises that it commenced arbitration against the Republic of Panama on 3 February 2026 pursuant to the applicable concession contract and the Rules of Arbitration of the International Chamber of Commerce.
The commencement of arbitration by PPC follows a campaign by the Panamanian State specifically targeting PPC and its concession contract spanning a year that has been marked by a range of abrupt actions by the Panamanian State culminating in grave and imminent further damage to PPC, while similar port sector contracts have not been targeted.
Panama Canal's Port of Balboa, managed by CK Hutchison Holdings, in Panama City. AP Photo
The arbitration also follows extensive efforts by PPC spanning a year to consult and avoid disputes. While diligently carrying out port operations and cooperating with the Panamanian State in many ways, PPC also has consistently advised through diverse communications its concerns regarding the State campaign as it has unfolded and sought clarity and consultations to avoid the necessity of arbitration, to no avail. Instead, over the past year, since the start of the present year, and even through recent days, the Panamanian State routinely disregarded communications, efforts to consult, and requests for clarity.
The arbitration is based on the concession contract and legal framework that have been enshrined over almost three decades as a “contract-law,” providing legal certainty and long-term respect for the applicable legal and contractual framework. The Republic of Panama has breached the applicable Contract and law. PPC seeks extensive damages based on an assessment of relevant financial data, subject to prompt resolution, and such other requests for relief as may prove necessary. PPC and its investors continue to permanently reserve all rights.
Cranes load a cargo ship at Panama Canal's Port of Balboa, managed by CK Hutchison Holdings, in Panama City. AP Photo
As a backdrop to the arbitration, and in addition to the other aspects of its campaign, over the past year, the Panamanian State choose to reverse its longstanding positions regarding the legal and contractual framework, breached its obligations under the contract, and commenced, pursued, and/or supported legal proceedings aimed at destroying the concession contract, which was the result of a transparent international bidding process.
As PPC has advised, the Judicial Branch of the Republic of Panama issued an irregular press statement after the closure of the Supreme Court of Justice on the night of 29 January 2026, regarding a ruling to declare Law No. 5 of 16 January 1997 unconstitutional, among other relevant laws and instruments. Such an outcome is diametrically opposed to previous decisions issued by the Supreme Court regarding contracts similar to the PPC contract. The court ruling has not yet been published or become effective.
Since early on the morning after the judicial press release, the Panamanian State declared and broadly deployed steps to take over the operations of PPC. With various references to the unpublished court ruling, the steps taken by the State have included unexpected site visits and instructions that PPC, a private company, provide unrestricted access to physical, commercial, and intellectual property and information, as well as to employees, on the basis that the State is “systematizing and executing" a port transition “plan” through “coordinated actions” of State authorities.
Cargo containers sit stacked as cranes load and unload containers from cargo ships at the Cristobal port, operated by the Panama Ports Company, in Colon, Panama, Feb. 4, 2025. (AP Photo/Matias Delacroix, File)
PPC has continued to manage port operations and respectfully interact with State representatives, including requesting access to the referenced plan and opportunities to consult and coordinate. As PPC has highlighted, PPC and its investor have invested extensively in infrastructure, technology, and human development—an amount multiple times the investment made by any other port operator in the country. These investments have generated thousands of direct and indirect jobs and have been determinant in establishing Panama as a globally recognized port and logistics hub, attracting the world's leading shipping lines and generating positive impact for the entire nation.
Despite recent developments, PPC strongly reiterates its invitation to the Panamanian State for clarity and consultations to resolve this matter.
NEW YORK (AP) — A Doberman pinscher named Penny won best in show Tuesday night at the Westminster Kennel Club Dog Show, netting U.S. show dogs’ most coveted prize.
Penny bested six other finalists at New York’s Madison Square Garden.
Each dog is judged according to how closely it matches the ideal for its breed.
The winner gets a trophy, ribbons, bragging rights and the distinction of winning the milestone 150th annual Westminster show.
The winner came out on top after two days, 2,500 dogs and more than 200 breeds who strutted their stuff at the Westminster Kennel Club. It came down to just seven canines who vied for the prize.
Penny not only gets a trophy, ribbons, and bragging rights but, this year, the distinction of winning the milestone 150th annual Westminster show.
Finalists includes an Afghan hound named Zaida, a Lhasa apso called JJ, a Maltese named Cookie and an old English sheepdog dubbed Graham. Also in the running were a Chesapeake Bay called Cota and a smooth fox terrier called Wager.
Lots of others scored meme-able moments or lightened up the crowd, even if they didn't make the finals.
Over two nights of semifinals, spectators cheered extra-loud for a Xoloitzcuintli named Calaco, a hairless dog who went around the ring like he had nothing to prove. A vizsla named Beamer charmed the crowd by hopping into a box set out for his handler's tools, and Storm the Newfoundland got laughs when he jumped up on his handler, standing almost as tall as she. Spectators cheered so loud for a golden retriever named Oliver that they drowned out the arena's announcer, and chants of “Lumpy! Lumpy!” resounded as Lumpy the Pekingese strolled before a judge.
One dog that made history in the semifinals was Millie, a Danish-Swedish farmdog. The small, spry breed just became eligible for the Westminster show this year, and Millie bested about 10 other farmdogs Tuesday afternoon to get to the evening round.
“It's been a very exciting journey” to establish the breed in the U.S., said Brita Lemmon, who got her first farmdog in 2000 and competed Tuesday with one named Coyote.
Westminster wins often go to pooches with professional handlers or owners with decades or even generations of experience behind them. But just reaching the elite, champions-only show is a major accomplishment in dogdom, especially for first-timers such as Joseph Carrero and his Neapolitan mastiff, Dezi.
After yearning for a Neo since his teenage years, Carrero finally got one when he was 35. A heavy equipment operator from Indian Springs, Nevada, he started showing the dog only because the breeder wanted him to. Now Carrero himself breeds and handles his Neos in the ring, while also working full-time and then some.
“It's really hard for us to do this, but we enjoy it, and he enjoys it,” Carrero said as a visitors gathered around to greet the jowly, 190-pound dog.
Boerboels, which are formidable guard dogs originally from South Africa, played a major role in how Natalee Ridenhour met her late husband and why she eventually left metropolitan life for a farm in Royse City, Texas.
On Tuesday, Ridenhour and a Boerboel named Invictus did something else she once would never have pictured: compete at the Westminster show.
The dog didn't advance past the first round. But as a visitor delightedly petted the 170-pound animal, Ridenhour said, “Honestly, the big win is: You're about the 50th person who's gotten down in his face and loved on him.”
Millie, a Danish-Swedish farm dog, competes in the working dog group competition of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
Penny, a doberman pinscher, competes in the working group competition of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
A Chesapeake Bay retriever named Next Generation's Accelerate, or Cota, grabs the blue ribbon from his handler after winning the sporting group competition of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
A Lagotto Romagnolo named "Boardwalk Here Comes the Sun" competes in the sporting group of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
Handler Hadrian Towell guides Manchester terrier Passport Sunkissed It's a Yes from Me Bonchien through the ring during the Junior Showmanship finals competition of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
A Weimaraner, named Sophia, competes in the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
A handler guides Hillcock's Burl Oak through the ring during the sporting dog group competition of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
A Chesapeake Bay retriever named Next Generation's Accelerate, or Cota, grabs the blue ribbon from his handler after winning the sporting group competition of the 150th Westminster Kennel Club Dog Show, Tuesday, Feb. 3, 2026, in New York. (AP Photo/Yuki Iwamura)
Dogs wait to be judged in the demo ring at the 150th Westminster Kennel Club Dog Show, Monday, Feb. 2, 2026, in New York. (AP Photo/Angelina Katsanis)
A blood hound waits in the grooming area at the 150th Westminster Kennel Club Dog Show, Monday, Feb. 2, 2026, in New York. (AP Photo/Angelina Katsanis)
A groomer prepares their dog at the 150th Westminster Kennel Club Dog Show, Monday, Feb. 2, 2026, in New York. (AP Photo/Angelina Katsanis)
A handler with a dog treat in his mouth adjusts his Ibizan hound's stance at the 150th Westminster Kennel Club Dog Show, Monday, Feb. 2, 2026, in New York. (AP Photo/Angelina Katsanis)
