The Panama Canal expansion project

The Panama Canal expansion project, also called the Third Set of Locks Project, will be inagurated on 26 june. The expansion double the capacity of the Panama Canal by increasing the number of ships by adding a new lane of traffic, and increasing the size of ships by increasing the maximum allowed width and height having a direct impact on economies of scale and international maritime trade. The existing locks allow the passage of vessels that can carry up to 5,000 containers. After the expansion the Post-Panamax vessels will be able to transit through the Canal, with up to 13,000/14,000 container ship.

Works on the Panama Canal Expansion began on September 2007 at a total cost of US$5.2 billion. More than 30.000 workers were involved in the project.