On October 9, 1913, President Woodrow Wilson opened the Panama Canal by dynamiting the final dikes holding the water at bay. He did it from the comfort of the White House, keying a telegraph transmitter which set off the explosion from over 4,000 miles away. In the 103 years since Wilson pushed that button, the Panama Canal has become an international shipping bottleneck, as container ships grew too large for its aging locks. Much of that will change in June, when a $5.25 billion effort to expand the canal reaches its long-delayed conclusion, allowing ships more than two and a half times the size of the current limit to pass through the famous waterway. In the United States, the increased capacity could have profound effects on the transportation industry, as the cost of shipping from Asia to ports in the eastern United States would drop significantly.
The New Panama Canal Is Opening Soon And Will Cause An 'evolution' In A Vital Us Industry
wfierman@businessinsider.com (William Fierman), Business Insider
Sun, 05/08/2016 - 5:49pm
Topics: cargo going to houston used to go to the west coast. [it] will now be going through the panama canal, october president woodrow wilson white house june larger eastern us nerijus poskus flexport told business bnsf warren buffett's berkshire hathaway norfolk southern cn csx panama canalspecific ohio valley louisville memphis nashville panama canal poskus maersk msc mobile alabama los angeles long beach california some industry david cgm benjamin franklin which savannah georgia press in new york bayonne bridge authority panama canal"the mississippi river as business agricultural midwest lake gatun niño butler add watch suez canal united states east poskus business port insider union pacific gulf a a el american in vernon evolution ships shipping railroads container change freight years international volume expanded capacity costs asia project containers limit pass effects companies water increased increase billion call waterway time company drop bigger chose lot parts moving expansion began executive limited trip month goods
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