Panama Canal celebrates 102nd anniversary

August 23, 2016 - The Panama Canal celebrated 102 years of successful operations and service to the global maritime community, just one day after welcoming its 100th transit through the Expanded waterway. The two milestones punctuate a year for the Canal which has already been marked by a number of notable achievements.

Less than two months following the Expanded Canal’s historic June 26 Inauguration, the Neopanamax vessel Hanjin Xiamen became the 100th vessel to transit the new locks, passing through the Canal on the morning of Sunday, August 14. The Panama-flagged containership, which measures 294 meters in length and 40 meters in beam, made its northbound transit from the Pacific to Atlantic Ocean, destined for New York.

To ensure the continued reliability of the Canal over the past 102 years, constant maintenance of the original locks has been crucial. And, for that reason, the Panama Canal has invested more than $3.3 billion in improvements of the original waterway in the past 17 years alone. Some of these investments include: Upgrades to its locomotive fleet and tracks; Installation of new tie-up and mooring stations to allow additional Panamax vessels to transit, adding tens of millions of tons to the Canal’s annual capacity; Deepening of all of the lake channels, increasing draft reliability; Replacement of high mast lights in the locks to provide better illumination and extend daylight-hour transits; Investments in the Canal’s tugboat fleet that grew from 20 units in year 2000 to 46 new modern units that have been equipped with greater maneuverability, power and technology; And, more precise aids to the Canal’s navigation and vessel tracking system.

“All of these investments were carried out with the purpose of providing greater reliability, safety and improved transit times,” said Panama Canal Administrator and CEO Jorge L. Quijano. “After 102 years, the Panama Canal is rejuvenated thanks to the beginning of operations of the Expanded Canal, ongoing maintenance of its original infrastructure, and the commitment of its workforce of 10,000 talented men and women who make this route one of the main arteries of world maritime trade.” 

These investments have also allowed the Panama Canal to grow the total amount of tonnage it handles each year, from 228 million Panama Canal tons (PC/UMS) in 1999, to a record-breaking 340.8 million PC/UMS last year—a 50 percent increase. It is expected that the Panama Canal will continue to increase its annual tonnage during the next five years to approximately 524 million PC/UMS.