The Expanded Panama Canal

The great Panama canal is a man made canal that connects the Pacific Ocean and the Atlantic Ocean. It is very important to International Maritime trade because it serves as the main route for vessels going across the two ocean in either way. Because of the canal, global commerce is greatly benefited like fuel and time conservation as well as decrease in environmental pollution and hazards.

The Expansion of Panama Canal

The Panama canal expansion program consist of several components/projects including:

• New Pacific Access Channel (Pacific locks) to bypass Miraflores Lake includes a 6.1 km-long excavation.
• New Locks (Third Set of Locks) - two lock complexes in Atlantic and Pacific side.
• Dredging and widening of the navigational channel and waterways.
• Improvement an conservation of water supply of the Canal.

The overall program has a total cost of US$5.25 billion.

Its main goal is to increase capacity to meet demand growth. Trough the project the Canal’s capacity would be doubled, having a direct benefit on international maritime trade and world economy. The expansion will also help maintain the Canal’s competitiveness through improve service and great customer relation and will continue to hold the value of the maritime route through Panama.

Expanding the Panama Canal officially began in September 2007. Before the expansion locks only allow the passage of vessels that can carry up to 5,000 TEUs. After the expansion is completed, the Post-Panamax vessels will be able to transit through the Canal, with up to 13,000/14,000 TEUs.

(from top) The new locks of Panama Canal
The Cocoli Locks and Agua Clara Locks.

Inauguration of
the Expanded Panama Canal

On June 26, 2016 The Panama Canal Expansion has been official opened with the inaugural transit of Neopanamax vessel COSCO Shipping Panama through the new Atlantic-facing Agua Clara Locks with the presence of the different Maritime sectors leaders and representatives around the world.

During the inauguration the CEO of Panama Canal Authority Mr.Jorge L. Quijano said that there are already 170 reservations received to transit the Expanded Canal.

The International Maritime Authority (IMO) also highlighted the great contribution it can help in reduction of climate change issues and CO2 emissions.

The two new locks was named.
The Agua Clara Locks is on the Atlantic side opening via the Caribbean Sea and The Cocoli Locks is on the Pacific side of the country.

Considered and analyzed for a decade with more than 100 studies, the Expansion will provide greater economies of scale to global commerce. It will introduce new routes, liner services, and segments (such as liquefied natural gas). In line with its commitment to customer service, the Panama Canal will continue to provide the world with value for another century and beyond.

Almost 100 years after it first opened in 1914, the new chapter of Panama Canal begins, offering more convenience in the international trade and shipping industry. Not one but everyone of us is expected to benefit from the expansion.

Have you already transited the Panama Canal? How was your experience?

(For more details, photos and videos about the expansion visit micanaldepanama.com)
photo credits and source : micanaldepanama.com/expansion

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