Canal generates $7.6 billion

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The United States inaugurated the Panama Canal in 1914. It was returned to Panamanian control under the Panama Canal Authority (ACP) at the end of 1999. Since then the ACP has contributed $7.6 billion dollars in revenues from the interoceanic waterway to the National Treasury of Panama.

Expansion at 60%

The Panama Canal expansion project is 60% complete accoring to a recent report from the ACP which outlines the fact that progress is being made on both sides of the canal simultaneously. The larger post-Panamax ships that will use the new locks to travel from ocean to ocean will have to wait a bit longer than proposed, as contractor delays have pushed the opening date from October 2014 back to April 2015.

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