Panama’s expanded canal to set a new course for world trade

A huge container ship in a lock on the Panama Canal (photo:dpa)
A huge container ship in a lock on the Panama Canal (photo:dpa)

The project to expand the Panama Canal is expected to have a huge impact on world trade, with new routes opening up across the globe as supersize ships will, for the first time, be able to pass through the isthmus. Traffic through the canal is expected to increase by 35 per cent, giving a significant boost to Panama’s economy.

THE DYNAMICS of world trade are expected to change significantly once a project to increase the width and depth of the Panama Canal is completed in 2015.

The Panama Canal Authority (ACP), which operates the canal, announced at the end of 2012, that the US$5.25 billion project, which started in 2007, is almost half complete.

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