The Panama Canal

The 8th Wonder of the World…

After an intensive construction program (2009-2016), the Cocoli and Agua Clara Locks added a third lane to the Panama Canal for the transit of Neopanamax vessels.

Since its inauguration on June 26, 2016, the Expanded Canal not only exceeded traffic expectations but also reaffirmed its environmental leadership in the maritime industry, prioritizing water savings and contributing to the reduction of CO2, is a shorter route and offering greater cargo capacity to its customers.

Containerships represent more than half of the traffic through the Expanded Canal, followed by liquefied petroleum gas (LPG) carriers and liquefied natural gas (LNG) carriers. Other segments such as bulk carriers, tankers, car carriers, and passenger’s vessels have also transited the Neopanamax Locks.

LNG ships began using the waterway for the first time after the opening of the Expanded Canal. Since then, this segment has experienced steady growth. More than 90 percent of the LNG world’s fleet can now transit the Panama Canal, which opened the doors to a new market and allows LNG producers in the United States to send natural gas to Asia at competitive prices.

LPG vessel traffic has grown exponentially since the Expanded Canal’s opening and has become the second-largest segment of traffic through the Neopanamax Locks.

The Expanded Canal offers greater connectivity to world maritime trade.

What is the Panama Canal ?

The Panama Canal

The Panama Canal is an artificial 77 km (48 mi) waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean. The canal cuts across the Isthmus of Panama and is a conduit for maritime trade. Canal locks are at each end to lift ships up to Gatun Lake, an artificial lake created to reduce the amount of excavation work required for the canal, 26   (85 ft) above sea level, and then lower the ships at the other end. The original locks are 34 m (110 ft) wide. A third, wider lane of locks was constructed between September 2007 and May 2016. The expanded canal began commercial operation on June 26, 2016. The new locks allow transit of larger, post-Panamax ships, capable of handling more cargo.

LNG ships began using the waterway for the first time after the opening of the Expanded Canal. Since then, this segment has experienced steady growth. More than 90 percent of the LNG world’s fleet can now transit the Panama Canal, which opened the doors to a new market and allows LNG producers in the United States to send natural gas to Asia at competitive prices.

LPG vessel traffic has grown exponentially since the Expanded Canal’s opening and has become the second-largest segment of traffic through the Neopanamax Locks.

The Expanded Canal offers greater connectivity to world maritime trade.

EXPANDED PANAMA CANAL «First voyage» (official video)

A Chinese container ship has become the first vessel to sail into the newly expanded Panama Canal. Thousands gathered as the ship, called Cosco Shipping Panama, entered from the Atlantic en route to the Pacific. Construction on the new lane for the canal, which runs for 77km (48 miles), began in 2007 and was due to finish in 2014. But strikes and disputes over costs delayed the $5.2bn (£3.8bn) project. Panama Canal expansion prompts safety concerns The original Panama Canal was first used on August 1914. It was built by the US and handed over to local control in 1999. The expansion allows a new, much-larger generation of container ships to pass through the isthmus. Some 35 to 40 vessels transit the waterway every day.

The Expanded Panama Canal – Transforming World Maritime Trade

Since the inauguration of the Expanded Panama Canal, customers have taken advantage of the many benefits that expanded waterway has to offer. More than 600 ships have transited through the Expanded Canal. Of those, more than 50 percent of the transits have been container ships, followed by LPG and LNG carriers, vehicle carriers, dry bulk carriers, and tankers.