2. PANAMA CANAL
THE PANAMA CANAL IS A MAN-MADE WATERWAY LINKING
THE ATLANTIC AND PACIFIC OCEANS ACROSS THE NARROW
CENTRAL AMERICAN
3. LOCATION
• PANAMA IS A COUNTRY LOCATED IN THE CENTRAL
AMERICA REGION OF NORTH AMERICA BORDERING
BOTH THE CARIBBEAN SEA (ATLANTIC OCEAN) AND
THE NORTH PACIFIC OCEAN, BETWEEN COLOMBIA
AND COSTA RICA.
4. HISTORY
A PLAN TO LINK THE ATLANTIC AND PACIFIC OCEANS WITH A WATER ROUTE
• SHIP GOODS QUICKLY AND CHEAPLY BETWEEN THE ATLANTIC AND PACIFIC
COASTS.
• THEODORE ROOSEVELT APPROVED BY THE SENATE IN 1902
• BUILDING THE PANAMA CANAL, 1903–1914
• COST THE US AROUND $375 MILLION
5. CONSTRUCTION
PRIOR TO THE COMPLETION OF THE CANAL, A SHIP SAILING
BETWEEN PORTS IN NEW YORK AND SAN FRANCISCO HAD TO SAIL
FOR ABOUT12,000-MILE, TRIP TOOK 67 DAYS. AFTER THE CANAL
WAS COMPLETED, APPROXIMATELY 8,000 MILES WERE ELIMINATED
FROM THE TRIP
6. PLEASURE
THE CANAL PERMITS CRUISES, SHIPPERS OF COMMERCIAL GOODS,
RANGING FROM AUTOMOBILES TO GRAIN AND FOR THE
TRANSPORTATION OF MILITARY WATER VESSEL NEEDING TO PASS
BETWEEN THE TWO OCEANS
7. THE FUTURE OF THE CANAL
• SHIPPERS ARE NOW BUILDING LARGER VESSELS
TO CARRY LARGER LOADS OF CARGO AND
THESE POST-PANAMAX SHIPS ARE TOO BIG TO
GO THROUGH THE CANAL. THIS, COMBINED
WITH TRAFFIC JAMS AT THE CANAL THAT CAN
DELAY SHIPS FOR UP TO A WEEK, HAVE LED TO
THE NEED FOR EXPANDING THE CANAL.
EXPANSION, EXPECTED TO BE COMPLETED IN
2015, WILL DOUBLE THE CANAL'S CAPACITY,
ALLOWING FOR FREE FLOW OF TRAFFIC WHILE
8. CONCLUSION
• TODAY, THE CANAL IS OWNED BY PANAMA—PRESIDENT CARTER
SIGNED A 1977 TREATY THAT GAVE THE CANAL BACK TO
PANAMA IN 2000—AND EMPLOYS APPROXIMATELY 9,000
WORKERS. THE CANAL OPERATES 24 HOURS A DAY, 365 DAYS A
YEAR AND ALLOWS VEHICLES FROM ALL NATIONS TO USE ITS
TRANSIT SERVICES REGARDLESS OF POLITICS.
• ALL VESSELS PASSING THROUGH THE CANAL ARE SUBJECT TO A
TOLL. THIS CALCULATION IS BASED ON WATER DISPLACEMENT
OR BERTH. TOLLS SUPPORT MAINTENANCE, IMPROVEMENT AND
OPERATIONS. THE PANAMA CANAL OPERATION DOES SEEK TO
MAKE A PROFIT, HOWEVER, AND ITS SUCCESS IS SUBJECT TO
CUSTOMER SATISFACTION.
