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.