Global commerce has been forever altered by the Panama Canal and the expansion to three lanes will continue to grow the pathways for the global trade industry.
The construction of the Panama Canal was one of history’s most impressive engineering accomplishments. The swath cut through the American continents has forever altered the routes of oceangoing commerce. The new lane through the American continents effectively freed up ships to travel much more easily between the Atlantic and the Pacific Ocean. With its complicated system of tiered locks, the canal would have been an impressive feat even today, though it was completed just after the turn of the 20th Century. Enormous ocean-going vessels are constantly being lifted up and across the continent, and on toward their destination.
As would be expected, this safer and more efficient route is an immensely popular alternative to a harrowing Cape Horn passage. The canal’s popularity has grown over time to the point that its capacity is far outweighed by its demand. For this reason, another massive undertaking has been considered for years – a third lane.
To most who travel in cars, this is the point at which a highway or road really matures into what would be considered a freeway. Granted, the operation of this particular freeway will be highly orchestrated. There will be no diamond lane, but with the eagerly anticipated widening of the canal, much larger ships will be able to pass through its locks. The third lane is nearing completion, and with its completion on the horizon, so are some major alterations in the commercial environment.
What does this mean for global trade? For one, mega-vessels will have a much more efficient route to bypass the American continents. Before the widening project, these gargantuan vessels’ hulls were far too large to be accommodated by the intricate lock system. Some of the world’s largest ships will soon be able to consider the Panama Canal as a viable route to their destination, precipitating a shift in navigational routes. Packing/unpacking facilities, trucking lines, warehouses, and ports will likely brace for the increased traffic of larger ships. Global commerce has been forever altered by the Panama Canal once already, and it would seem this is likely to happen again, as the canal grows from a shipping highway to a shipping freeway.
