Background
The capacity of the Panama Canal is determined by a number of factors, the most important of which is the size of the locks that raise and lower ships as they pass through the canal. The smallest dimensions of the locks are 110 ft (33.53 m) wide, 1,050 ft (320.04 m) long, and 41.2 ft (12.56 m) deep. Because of clearance issues, the usable sizes are somewhat smaller (e.g., the maximum usable length of each lock chamber is about 1,000 ft (304.8 m). The maximum size of the ships that can transit the canal is known as the Panamax.
All of the canal widening studies since the 1930s have determined that the most effective and efficient alternative to enhance capacity is the construction of a third set of locks, with larger dimensions than those of the locks built in 1914. In 1939, the United States initiated the construction of locks designed to allow the transit of commercial vessels and warships, whose dimensions exceeded the size of the existing locks. In 1942, after advancing the excavations significantly, the Americans suspended the third set of locks project after they joined the Allies in World War II.
In the 1980s, the tripartite commission formed by Panama, Japan, and the United States took up the issue again and, like the Americans in 1939, determined that a third set of locks with larger lock chambers was the most appropriate alternative for increasing capacity. Today, the studies developed by the Panama Canal Authority (ACP) as part of its master plan, with a horizon to the year 2025, confirm that a third set of locks, larger than those existing now, is the most suitable, profitable, and environmentally responsible way to increase canal capacity and allow the Panamanian maritime route to continue to grow.
Then-President Torrijos, in an April 24, 2006, speech announcing the project, said that "to say it in a graphic manner, is like our 'petroleum'. Just like the petroleum that hasn't been extracted is worthless, and that in order to extract it you have to invest in infrastructure; the canal requires to expand its capacity to absorb the growing demand of cargo and generate more wealth for Panamanians".
Read more about this topic: Panama Canal Expansion Project
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