Press Room

CLARIFICATION TO THE PUBLIC

In the last 3 years, Hutchison Ports PPC (Panama Ports Company, S.A.) has made payments to the Panamanian State amounting to $59 million which includes dividends in advance, totaling $658 million during the concession period.

Hutchison Ports PPC reiterates that in the year 2021, it paid $165 million in dividends and extraordinary contributions, including $35 million advanced dividends at the request of the Panamanian State, equivalent to 5 years of dividends, to address the financial crisis.

It should be noted that the company has paid a sum of $38 million over the past 3 years for container movement fees, which has been periodically paid to the Panamanian State by checks as established by the contract-law. Currently, Hutchison Ports PPC is the only port operator in the country where the state is a shareholder,
receiving payments for container movements and dividends.

The total amount paid to the State during the concession comes to $658 million, far exceeding the contributions of any other port company in Panama.

Hutchison Ports PPC has a workforce composed of 99.9% Panamanian personnel and investments in infrastructure and equipment amounting to $1.695 billion. This has made the Balboa and Cristobal port terminals among the most competitive and innovative in the region, attracting new shipping lines and larger cargo volumes to the country, which has generated thousands of new direct and indirect jobs for Panamanians and increased the concessionaire’s contributions to the national economy.

Hutchison Ports PPC (Panama Ports Company, S.A.)
Committed to Transparency and National Development

At Hutchison Ports PPC, we have maintained and will continue to maintain a transparent and collaborative relationship with Panamanian authorities. We remain steadfast in our commitment to comply with all laws and regulations, fully exercising our contractual responsibilities.

Our financial results, audited by an independent external auditor, have been shared annually with our partner, the Panamanian State, ensuring trust and clarity in our management. Likewise, we submit monthly reports to the Ministry of Economy and Finance and other government entities.

It is noteworthy that we were audited in 2020 – 2021 by the General Comptroller’s Office of the Republic and the Panama Maritime Authority, both of which demonstrated full compliance with our contractual obligations. Furthermore, we wish to inform the public that the General Comptroller’s Office of the Republic of Panama is currently conducting a new audit at our facilities, with which we are fully cooperating and maintaining due transparency.

Since our arrival, we have contributed over B/.5.9 billion balboas to the national economy, including added value, indirect effects, dividends, and payments to the State. This contribution has generated thousands of direct and indirect jobs, benefiting the country’s economy.

We reaffirm our ongoing commitment to excellence and ethics in each of our operations.

This commitment is fundamental and is reflected in our significant investments in the ports of Balboa and Cristóbal, where we have exceeded expectations in continuous infrastructure improvements, contributing to the country’s economic and social development.

Hutchison Ports PPC proudly opened its doors to welcome the 15 finalists of the National Oratory Contest, one of the most prestigious academic competitions in Panama, along with their advising teachers. During their visit, the students had the opportunity to gain firsthand insight into port operations and their impact on Panama’s economic and sustainable development.

As part of the tour, the finalists explored the historical evolution of the ports managed by Hutchison Ports PPC and their strategic role in global trade. Additionally, the company’s commitment to technological innovation and environmental sustainability was highlighted, which are fundamental aspects to face the challenges of the future.

Hutchison Ports PPC CEO, Jared Zerbe, accompanied the students, answering their questions and sharing insights into port operations. Zerbe said: “It is an honor to welcome these young leaders, who represent the talent and future of Panama. At Hutchison Ports, we firmly believe in the transformative power of education and its role in shaping the next generation of professionals.”

This experience allowed students to connect key concepts of logistics, sustainability, and global trade with their academic studies, giving them a broader perspective on the challenges and opportunities in the port sector.

The National Oratory Contest has become a platform for fostering critical thinking and academic excellence among young Panamanians—values that align with Hutchison Ports PPC’s mission.

The company reaffirmed its commitment to supporting initiatives that help develop future leaders and wished the finalists success as they advance to the competition’s final stage.