Panama Canal’s bigger locks are paying off big time

Panama’s $5 billion investment to expand its century-old canal is paying off as shipping lines send more US-bound cargoes through the passage instead of the Suez Canal.

Ships nearly three times as large as the ones crossing before the expanded locks opened in June last year are bringing tens of millions of additional dollars in tolls and a trading boom to US east coast ports, allaying some fears that investments to cater to the bigger vessels wouldn’t see enough returns.

Source: Wall Street Journal