Picture of the Day: Panama Canal Expansion
- Business & Finance
The Panama Canal Expansion is the largest project at the Canal since its original construction.
The project will create a new lane of traffic along the Canal through the construction of a new set of locks, doubling the waterway’s capacity. The existing locks allow the passage of vessels that can carry up to 5,000 TEUs.
After the expansion the Post-Panamax vessels will be able to transit through the Canal, with up to 13,000 TEUs. The Expansion will double the Canal’s capacity, having a direct impact on economies of scale and international maritime trade.
The Panama Canal Expansion was more than 86 percent complete as of the end of February 2015.
The project will also help to protect and conserve the water resources of the Panama Canal watershed. A new water-saving basin system will improve water efficiency, utilizing seven percent less water than the existing locks. In addition, 60 percent of the water will be recycled in each transit.