The expansion of the Panama Canal has been completed and the upgraded canal is now open.

“More than 100 years ago, the Panama Canal connected two oceans,” said Jorge L. Quijano, CEO of the Panama Canal Authority. “Today, we connect the present and the future. It is an honour to announce that what we did it together: providing this great connection to the world. This is the beginning of a new era.”

The first vessel to use the new canal was the COSCO Shipping Panama, which passed through the Agua Clara Locks on the Atlantic side and ended its transit through the Cocoli Locks on the Pacific side en route to Asia.

“We are thrilled that we currently have 170 reservations for Neopanamax ships, commitments of two new liner services to the expanded canal, and a reservation for the first LNG vessel, which will transit in late July,” said Quijano. “Our customers care that their supply chain is reliable and that they have a diversity of shipping options. And the canal has always been reliable; today, we offer the world new shipping options and trade routes.”

Construction of the US$5.25 billion expansion project began in 2007, consisting of a new set of locks on both the Atlantic and Pacific sides of the canal, as well as the excavation of more than 150 million cubic metres of material to create a second lane of traffic.