More than 17,000 transits due to the expansion of the Panama Canal

Panamanians remember on Sunday the opening of the Cocolí terminal, in this capital, on June 26, 2016, when more than 20,000 guests witnessed the passage of the first ship, Cosco Shipping Panama.

The expansion of the canal, depending on the entity selected, allows the passage of ships up to 14,000 containers, three times the capacity that existed before.

Neopanamax locks contribute more than 50 percent of the waterway’s tonnage and revenue, and its primary users are the United States, China, and Japan, in that order.

New markets opened thanks to this route, among them the crossing of the first LPG vessel, the Lycaste Peace, under the flag of Panama, of the Nippon Usain Kaisha Line (NYK Line), one day after it opened.

On the same day, the LPG Passat, which carries the flag of the Marshall Islands (226 meters long and 37 meters wide), also flew. Both ships began their crossings through the Agua Clara locks in the Atlantic, culminating in the Cocolí locks in the Pacific Ocean.

In July 2016, Maran Gas Apollonia became the first vessel carrying liquefied natural gas (LNG) to move through the expanded canal.

This Greek-flagged ship and the Shell International Shipping and Trading Company line is 289 meters long, 45 meters wide and can transport up to 166,000 cubic meters of gas.

The expanded canal also allowed for the first passage of the Norwegian Bliss, the largest passenger ship ever to use this route.

The construction of the third set of locks began on September 3, 2007 with the aim of doubling the road’s traffic capacity. The project resulted in more than 30,000 employment contracts and cost $5.25 billion.

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2021 statistics show that more than 13,000 ships pass through the canal annually, covering 180 commercial sea routes in 170 countries, although 70 percent travel between Asia, the west coast of South America, and ports in the eastern United States.

In 2021, the strategic artery of the state was handed over two thousand and 80 million dollars, which is equivalent to surpluses and rights per ton of traffic and payment for services rendered.

The administration of the Panama Canal stated that the contribution to the treasury for the year 2022 will be two thousand and 500 million dollars, according to the budget approved for the entity by the National Assembly (Parliament).

The Panamanian constitution stipulates that the canal will transfer its economic surpluses to the national treasury each year after covering the costs of operation, investment, operation, maintenance, modernization, expansion and contingency reserves.

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