The Expanded Panama Canal is now officially open for business on 26th June.

Then-Panamanian President Martín Torrijos formally proposed the project on 24 April 2006, saying it would transform Panama into a First World country. A national referendum approved the proposal by a 76.8 percent majority on 22 October, and the Cabinet and National Assembly followed suit. The project formally began in 2007. It was initially announced that the Canal expansion would be completed by August 2014 to coincide with the 100th anniversary of the opening of the Panama Canal but various setbacks, including strikes and disputes with the construction consortium over cost overruns, pushed the completion date several times. Following additional difficulties including seepage from the new locks, the expansion was opened on 26 June 2016. The expansion doubled the Canal’s capacity, and has a direct impact on economies of scale and international maritime trade.