F E AT U RE Around 98 per cent of the worlds vessels have been able to navigate the Panama Canal since the upgrade The Canal Movers & Logistics Corp team For the past decade, Canal Movers has served corporate customers from multinational companies, as many companies have discovered the advantages that Panama offers their businesses and transferees, says Lafitte. So much so that many companies have decided to relocate their regional headquarters to Panama. Another change has been a growth in private retirees shipments, driven by the countrys popularity with that age group, with its appealing climate, culture and lifestyle. A BLESSED COUNTRY Those who relocate to Panama usually find they are onto a very good thing. Panama is a very blessed country. Only those who have lived the Panama experience can speak about it, not only for its beauty, but with what is associated with it; its people, their culture and great, exotic places to visit, explains Laffitte. NOT JUST ANY OLD WATERWAY Now managed and operated by the government-owned Panama Canal Authority, the 82km (51-mile) long Panama Canal connects the Atlantic and Pacific Oceans. At its opening in 1914, it was used by around 1,000 ships. This has swelled to 14,000 vessels passing through its locks each year, according to USA Today. While the canal is a wonder of engineering and a nautical and trade success story, its saga has not always been plain sailing, as FIDI Focus found out This is the route that unites the world, declared Panamanian President Juan Carlos Varela in 2016 as the widened and modernised canal was launched to a fanfare. The expansion, completed by a consortium led by Spains Sacyr and Italys Salini Impregilo, cost Panama $5.4bn. Now, the Panama Canal is facing increased competition. Some suggest that the Suez Canal in Egypt is a possible alternative for cargo travelling from Asia to the East Coast of the United States, and global warming and ice melting may make a route across the Arctic Ocean a possibility one day. However, Panama still serves more than 144 of the worlds trade routes. Most of the canal traffic comes from the all water route that takes goods from Asia to the USA east and Gulf coasts. Using the canal, despite its tolls, saves 62 FF294 DecJan20 pp56-63 City on the Move Panama.indd 62 the crews of ships a 7,900-mile trip they would otherwise be forced to take around the southern tip of South America. Ships must slowly and careful navigate the canal through a succession of locks a process that takes around 10 hours. Some vessels must also wait up to 25 hours for permission to begin their trip through the locks. The story of the canals construction is a multinational tale. France first began this daunting project in 1881. Civil engineering problems and a high rate of worker deaths halted work. The US took over the scheme in 1904 and the canal was opened in August 1914. The canal is one of the biggest and most challenging engineering tasks ever undertaken and means ships can cuts days off their overall transit time. Furthermore, they can avoid the lengthy, hazardous Cape Horn route navigating the southernmost tip of South America via the Drake Passage or Strait of Magellan. During its construction, Colombia, France and the US-controlled territory surrounding the Panama Canal. The US continued to control the canal and surrounding Panama Canal Zone until the 1977 TorrijosCarter Treaties allowed for a future handover to Panama. In 1999, after a spell of joint American Panamanian control, the canal was taken over by the Panamanian government and it is now managed and operated by the Panama Canal Authority. In 2007, a programme of work to improve the Panama Canal started. Commercial operations of the improved canal began on 26 June 2016. The third lane of locks offer a greater cargo capacity than the original locks could handle and allow the passage of large Post Panamax and New Panamax ships. WWW. F I D I . OR G 20/11/2019 13:27