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 program consists of several components/projects:
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 main objective of the expansion program is to increase capacity to meet demand growth with enhanced customer service. The expansion will double the Canal’s capacity, having a direct impact on economies of scale and international maritime trade.
It will help maintain the Canal’s competitiveness and the value of the maritime route through Panama. The overall program has a cost of USD 5.25 billion.
World Maritime News Staff; Image: Panama Canal Authority