Panama Canal - Connecting two oceans
Economy
978-3-14-100890-6 | Page 177 | Ill. 2
Overview
The Panama Canal is an approximately 82 km long, largely artificial route for deep-sea shipping in Central America. Its special position in the world transport system is most comparable to that of the Suez Canal. The Panama Canal connects the Caribbean Sea with the Pacific Ocean at a particularly narrow point of the Central American land bridge. It thus enables ship passages, for example, on the heavily frequented route between Asia and the east coast of North America, but also between the east, south and west coasts of North America and between the American west coast and Europe. The journey times on these routes are significantly shorter than when rounding Cape Horn at the southern tip of America. Shipping between Los Angeles and Europe is ten days shorter, and the transport costs for goods are correspondingly lower. This makes the Panama Canal one of the busiest shipping routes in the world, despite the high passage fees.
Canal route and waterway functions
The canal can be divided into six sections. From the Caribbean Sea, a dredged shipping canal first leads from the entrance to the lock steps at Gatun. There, the route leads either via the Gatun Locks (for container ships up to 4,600 TEU), which have existed since the opening of the canal in 1914, or, since 2016, via the New Atlantic Locks (for container ships up to 12,000 TEU). There, a height difference of 26 metres to the Gatun Lake, an artificial lake, has to be overcome. The navigation canal there is the longest section of the Panama Canal, at around 30 kilometres. From Gamboa onwards, the 13-kilometre-long Galliard Passage is blasted into the surrounding hills. It has been widened and deepened several times. From the end of the canal cut, the route leads either via the Pedro Miguel Locks and the Miraflores Locks, which have existed since the canal was opened in 1914, or more recently via the New Pacific Locks. From there, a navigation canal leads through a narrow bay. The Pacific is reached at Naos Island. A boat passage takes about 24 hours.
Lake Gatun is extremely important for the function of the canal. The water level must be as even as possible, although the locks lose water to the oceans. This is achieved by the main tributary, the Rio Chagres. Above Gamboa is a dam where the inflow into Lake Gatun can be controlled. Near the Gatun sluice is the outlet of the Rio Chagres from Lake Gatun. Since it is also equipped with a dam, water can be discharged there if necessary.
Historical development and economic significance
The Panama Canal project has been pursued since the mid-19th century. A first construction attempt started in 1879, but the operator went bankrupt under scandalous circumstances in 1889. Numerous construction workers died. In 1901, the USA secured access to the area of today's Panama Canal. At their instigation, the province of Panama was separated from Colombia and became independent as a state in 1903. The USA secured influence over the government of the young state and in particular power over the so-called Panama Canal Zone, the immediate area around the canal.
The United States resumed planning and construction, leading to the opening of the Panama Canal in 1914. The USA retained sole power over the Panama Canal Zone until 1979, but then shared it with Panama for 20 years. In 1999, the USA withdrew completely, and the Panama Canal Zone was fully integrated into the Panamanian state.
Panama's economy is largely oriented towards the canal. Revenues result on the one hand from the fees due - for the passage of a 4,600 TEU container ship, around 350,000 US dollars are currently charged - but also from the services around the canal. These include, for example, the registration of ships, which is particularly easy and inexpensive in Panama. As a result, around 6,500 merchant ships sailed under the Panamanian flag in 2016. This makes the country the international leader. The seaports and airports in Panama City, Balboa, Cristobal and Colon also benefit directly from the canal, as does cruise tourism. Panama is also classified as a "tax haven" within the international financial system.
The Panamanian state is trying to secure the position of the Panama Canal through extensive investments. The expansion between 2007 and 2016 swallowed around 8 billion US dollars.
Historical development and economic significance
The Panama Canal project has been pursued since the mid-19th century. A first construction attempt started in 1879, but the operator went bankrupt under scandalous circumstances in 1889. Numerous construction workers died. In 1901, the USA secured access to the area of today's Panama Canal. At their instigation, the province of Panama was separated from Colombia and became independent as a state in 1903. The USA secured influence over the government of the young state and in particular power over the so-called Panama Canal Zone, the immediate area around the canal.
The United States resumed planning and construction, leading to the opening of the Panama Canal in 1914. The USA retained sole power over the Panama Canal Zone until 1979, but then shared it with Panama for 20 years. In 1999, the USA withdrew completely, and the Panama Canal Zone was fully integrated into the Panamanian state.
Panama's economy is largely oriented towards the canal. Revenues result on the one hand from the fees due - for the passage of a 4,600 TEU container ship, around 350,000 US dollars are currently charged - but also from the services around the canal. These include, for example, the registration of ships, which is particularly easy and inexpensive in Panama. As a result, around 6,500 merchant ships sailed under the Panamanian flag in 2016. This makes the country the international leader. The seaports and airports in Panama City, Balboa, Cristobal and Colon also benefit directly from the canal, as does cruise tourism. Panama is also classified as a "tax haven" within the international financial system.
The Panamanian state is trying to secure the position of the Panama Canal through extensive investments. The expansion between 2007 and 2016 swallowed around 8 billion US dollars.
