ACP Plans To Further Expand Canal For 18,500TEU Vessels
News: The Panama Canal Authority (ACP) is ready with its plans to further expand the Panama Canal in order to serve mega vessels, according to the agency's Deputy Administrator Manuel E Benitez. Benitez said that designs for construction of a fourth set of locks for handling vessels with up to 18,500 twenty-foot equivalent units (TEUs) capacity are under way. The current expansion project is worth US$5.25bn and will develop a third shipping lane with new locks on the Atlantic and Pacific sides. After the completion of the expansion project, the Canal's passages will be wide and deep enough to handle vessels with capacity between 13,000 and 14,000TEUs.