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Posted by Maria Arias on April 19, 2016
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PANAMA CANAL EXPANSION PROJECT OPENS JUNE 26

The expansion of the Panama Canal will open on June 26 with the first commercial ship and a protocol ceremony that are invited 70 heads of state, including the president of the United States, Barack Obama. Also the participation of representatives of countries that use the Canal, as China, and major shipping companies in the world.

The first ship transiting the expansion is unknown. The authorities of the waterway have to decide if they choose the shipping through an auction or through a raffle. The ship will enter the water route across the Atlantic and arrive in the afternoon to the Pacific, where will be waiting the authorities of the country and all its guests. The cost of the first transit is estimated between 300,000 to 700,000 dollars depending on the load, size or number of containers and weight.

The third lane of locks is crucial for the expansion and allow the passage of ships Neopanamax, with a capacity of 13,000 containers. With the expanded Canal Panamanian treasury expects to triple in a decade the $ 1,000 million received annually by charging tolls, especially for the transport of containers, grains and natural gas from the United States to Japan.

The Panama Canal expansion, with an investment of five thousand 250 million dollars, began on September 3, 2007, to double the transit capacity of the road built by the United States between 1904 and 1914. The financial benefit for the country will begin to be felt in 2017, when it is expected that the contribution to the country rise a 30 percent to 1.400 billion.