Panama Canal

5 Stories

Panama Canal Christens Its $5B Gamble

Vast overhaul doubles capacity

(Newser) - With a band playing and flags waving, a Chinese ship carrying more than 9,000 containers on Sunday entered the newly expanded locks that will double the Panama Canal's capacity in a multibillion-dollar bet on a bright economic future despite tough times for international shipping. Several tug boats pulled... More »

Nicaragua Sets Path of Panama Canal Rival

A man, a plan, a canal—not Panama!

(Newser) - Nicaragua's government and Hong Kong-based HKND Group yesterday unveiled the route of a proposed $40 billion inter-ocean canal to compete with the Panama Canal that Sandinista officials hope will lift the Central American country out of poverty. While the canal has the support of President Daniel Ortega and most... More »

Clash Over $1.6B Could Sink Panama Canal Project

Neither builders nor Canal Authority want to give up the funds

(Newser) - An ambitious plan to expand the Panama Canal may soon run aground—two-thirds of the way into the project. The $3.2 billion undertaking is supposed to see a third set of locks installed in order to allow larger vessels to pass through the canal by mid-2015. But that price... More »

China Plots Own Panama Canal— in Nicaragua

Chinese-aided project could double Nicaragua's GDP

(Newser) - The Panama Canal could soon have a rival to the northwest. Nicaragua is itching to get started on a new route between the Atlantic and Pacific oceans, one that would measure 130 miles and take as long as 11 years and $40 billion to dig. And just as the US... More »

Flooding Closes Panama Canal

Canal shut for 3rd time in 96 years

(Newser) - Flooding has forced authorities to close the Panama Canal for only the third time since it opened in 1914. Officials say they hope to have the waterway, a conduit for close to 5% of all world trade, back open sometime today, CNN reports. The canal was shut down during the... More »

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