The New Panama Canal, the benefits of a unique infrastructure in the world

August 31, 2024, was a special day for global maritime trade: the MSC Marie, a massive container ship with 17,640 TEUs, measuring 366 meters in length and 51 meters in width, with a draft of 14.53 meters, traveled from the port of Manzanillo in Mexico through the Panama Canal, setting a Guinness World Record as the largest vessel ever to cross the Canal. This record was made possible thanks to the expansion of this colossal hydraulic engineering project, including the construction of a third set of locks inaugurated in 2016.

With this expansion, a true “new Panama canal” was created, in addition to the original one opened in 1914. The new locks (also known as “chambers”) were designed to accommodate Post-Panamax, which include supertankers and the largest container ships. Before they were operational, vessels crossing the canal could not exceed 292 meters in length, 32 meters in width, a capacity of 5,000 TEUs, and a draft of 12 meters.

With the new lock system, each chamber measures 427 meters in length, 55 meters in width, and 33 meters in depth, compared to the 305 meters in length, 33 meters in width, and almost 13 meters in depth of the existing locks.

Dubbed the “eighth wonder of the world,” the new Panama Canal has essentially opened a second route between the Atlantic and Pacific Oceans, dramatically changing the landscape of global trade. Constructed by an international consortium, Grupo Unidos por el Canal (GUPC), led by Webuild, this project allows the giants of the sea to cross the Central American isthmus without needing to circumnavigate South America, reducing the journey to around 10 hours and saving almost 3.5 million liters of fuel. Initially, the project allowed for the daily passage of six Post-Panamax ships, a number that by 2019 had increased to 13 crossings per day, stabilizing at an average of 8 daily transits.

From the shores of Gatùn Lake, the body of water that separates the Atlantic and Pacific locks, each vessel’s 82-kilometer journey through the canal represents a remarkable achievement in modern engineering. This timeless work has had a decisive impact on global trade and the entire state of Panama.

The new Panama canal draws an invisible line across the seas, connecting 1,920 ports and serving 180 routes to 170 countries. Approximately 6% of global trade passes through Panama, with over 14,000 vessels handled annually, carrying goods worth $270 billion. Regarding trade with the United States, according to the Panama Canal Authority, 40% of all container traffic to or from the U.S. now transits through the isthmus. This is why the new locks are increasingly a pillar around which Panama’s economy revolves. It is estimated that the canal’s direct contribution represents around 3% of the national GDP, while its total contribution to all state revenues is approximately 20%.

One of the benefits of the new Panama Canal is its sustainability, starting with the way the new locks operate and the resulting redistribution of goods transported by sea. To move from one ocean to the other, ships must cross Gatùn Lake, which is 27 meters above sea level.

The third set of locks project involved constructing two triple-step chambers, one on the Atlantic side and one on the Pacific, allowing vessels to rise from ocean level to Gatùn Lake and vice versa in under two hours. To raise and lower ships between these levels, the new lock system does not consume energy, relying solely on gravity and water pressure. Finally, the amount of potable water required to operate the locks is 60% less than what is needed for the old canal’s chambers.