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Indiaexportnews.com

Panama Canal celebrates its 95th birthday

  19.08.2009    

The Panama Canal is celebrating 95 years as the "engine of global trade and national growth."
According to the Shipping Gazette, since the steamship Ancon's inaugural Canal passage on August 15, 1914, the waterway has offered service to more than 983,000 transits. The canal will reach the significant mark of one million transits next year, said a statement from the Panama Canal Authority said (ACP).
"Over the past 95 years, the canal has witnessed, and been instrumental in events that will forever shape Panama's destiny," said ACP chief executive Alberto Aleman Zubieta.
"The canal has been a part of the evolution of transportation as a vehicle for bringing together nations around the world. Similarly, it has contributed to various orders of human progress and scientific advancements such as engineering, dredging, hydraulics, and especially, the successful management of strategic natural resources," he said.
On this anniversary, the canal finds itself engaged in the largest project since its inauguration, the Expansion Programme, which broke ground in September 2007. The expansion of the canal will permit the transit of larger ships carrying more cargo, which will affect economies of scale and increase the usage of the Panamanian waterway.


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