The panama canal

The Panama Canal: “A Wonder of Work”

is located in Central America, bordering both the Caribbean Sea and the North Pacific Ocean, between Colombia and Costa Rica

Where is Panama?

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The French failure

In 1880, the French attempted to construct a waterway pass across the Isthmus but failed mainly because the very sick and dead among the French employees on the Isthmus.

Colombia rejected United States plans to build a canal across the Isthmus of Panama leading later a revolution where Panama became a Republic in 1903

Colombia rejected United States plans to build a canal across the Isthmus of Panama leading later a revolution where Panama became a Republic in 1903

It is estimated that over 80,000 persons took part in the construction and that over 30,000 lives were lost in both French and American efforts.

• It is estimated that over 80,000 persons took part in the construction and that over 30,000 lives were lost in both French and American efforts.

U.S President Theodore Roosevelt
Visiting the canal construction site.

The Panama canal 1904-1914

• The building of the Panama Canal took 34 years from the initial effort in 1880 to actually opening the canal in 1914. The building of the canal is considered one of the greatest engineering triumphs in history.

How it works…..

Map of the panama canal

Why build THE Canal?

• Initially, for military purposes
• Save money
• Transport goods faster
• Quick access to the Atlantic and Pacific oceans

Technological Fact

By 2018, the Panama Canal was maxed out.
In October, the country's voters approved a $5.25 billion plan to expand and modernize the canal. The project will include:

• two new sets of single-lane, three-step locks — one set at the Atlantic entrance and one at the Pacific;
• two new navigational channels to connect the new locks to existing channels; and
• deeper, wider versions of existing shipping lanes.

Why build THE Canal?

Traveling from Atlantic to Pacific, ships navigated around Cape Horn, the treacherous southern extremity of South America. A New York to San Francisco journey measured some 13,000 miles and took months.
The Panama Canal is one of the busiest water ways in the maritime world which sees huge ship traffic every day. It is also one of the ten Council International Maritime Organization (IMO) members with greater interest in providing international shipping services which is up to 6% of world commerce.

Facts about the canal

1. Operating around-the-clock, the canal sees some 40 vessels pass through each day, including tankers, cargo ships, yachts and cruise ships.
2. It Takes 10 Hours to Pass Through the Canal
3. Ships are charged a toll to pass through the canal based on their weight. On average this toll is about $150,000, though the largest sum ever paid to pass was $450,000, while the smallest amount was 36 cents, paid by a man named Richard Halliburton in 1928 who wanted to swim across. Luckily, if you want to enter the Miraflores Visitor Center to experience the canal, you'll only need to pay $15.
4. More than 14000 ships yearly

Length of vessel	Toll
Up to 15.240 meters (50 ft)	US$800
More than 15.240 meters (50 ft) up to 24.384 meters (80 ft)	US$1,300
More than 24.384 meters (80 ft) up to 30.480 meters (100 ft)	US$2,000
More than 30.480 meters (100 ft)	US$3,200
INTRA MARITIME CLUSTER - Local Tourism More than 24.384 meters (80 ft)	US$2,000 plus $72/TEU

Revenue from the Canal

Nearly 2.7 billion U.S. dollars was the toll revenue generated by the Panama Canal during the fiscal year 2020 (ranging from October 2019 to September 2020). In comparison to the previous year, this represented an increase of nearly three percent, despite the effects of the COVID-19 pandemic in the second half of the fiscal period. Tolls account for roughly 80 percent of the Panama Canal’s revenue.

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