Panama Canal Taking Reservations for First Trips
The Panama Canal is starting to take reservations for the first ships to use the expanded Panama Canal, confirming that the years-old expansion project is officially ready to open for business.
The first slots are scheduled for June 27, the day after inauguration ceremonies are scheduled commemorating the opening of the $5.5 billion Canal expansion. More than 25 slots were filled within hours, Canal Authorities said in a statement marking the historic expansion.
The new locks and expanded waterway have been years in development and represent a significant milestone for what has been called one of the seven wonders of the modern world. The Canal is expected to have a far-ranging impact on trade in both Panama and the region, drawing the world’s biggest New Panamex super tankers.
To handle the traffic, new developments are springing up on both sides of the Canal, as multi-national companies build new facilities to handle the bigger ships and new cargos. That expansion is why Panama’s economy is expected to grow by a healthy 6 percent this–year generating new jobs and, by definition, more renters and home buyers.
The first commercial ship ticketed to use the Canal on June 27 will be a Japanese ship carrying liquefied natural gas, which is expected to be a major new industry for the Canal.
The opening “marks an important day in canal history because the reservation system is now opened for neo-Panamax ships that will start using the new lane starting 27 June,” Panama Canal administrator Jorge L. Quijano said in a statement. “We are pleased with the results of this initial phase of transit reservations and we hope that each day more vessels transit through the expanded canal.”
The first ship to pass through the expanded Canal will actually go through during the opening ceremonies on June 26. That historic ship will be chosen by lottery on April 29.
Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency 
focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.
