The $270 Billion Race to Replace the Panama Canal

The Panama Canal, one of the greatest engineering marvels in history, is facing a crisis like never before. With water levels at record lows, daily ship transits slashed, and shipping costs skyrocketing, the future of this vital trade route is in jeopardy.

In this video, we explore the $270 billion race to replace the Panama Canal and its massive role in global trade. From Mexico’s Interoceanic Corridor to Colombia’s ambitious railway project and Nicaragua’s controversial Mega-Canal, countries across the Americas are competing to claim the crown.

But Panama isn’t giving up without a fight. The Panama Canal Authority is rolling out bold upgrades and strategies to stay competitive in a rapidly changing global trade landscape.

Which megaproject do you think will take the lead and reshape global trade? Let us know in the comments!

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#panama #infrastructure #engineering #construction

[davidnichols]

I transited the Panama canal in 1974 as a 3rd Mate aboard the US Lines container ship S/s American Astronaut. US Lines, the largest American registered container shipping company in The United States had 7 container ship built in Norfolk, Virginia all designed for the Asian market. These 7 ships ran between New York and Japan, stopping in both Long Beach, CA and Oakland, CA with various smaller ports as Hawaii. They transited on a 42 day rotation. 700 ft long, 62 ft wide with a maximum draft of 32 ft. Our service speed was 31 knots. Net tonnage was 28, 000 tons. Today, container ships are 8 times this size, automated carrying a 13 person crew, we had 38 persons aboard. The Panama Canal was a Marvel in the World of man made accomplishments.

[billyehh]

the Panama Canal is now back to normal due to the return of the rain. Gatum Lake is almost full.

[RS-uhrz]

22, 000 workers lost their lives during the initial, abandoned, French phase of the construction. An additional 6900 workers died during the concluding, successful, American phase.

[petertimmins]

I’m an American that lives in Panama 🇵🇦. The canal is just fine.

[bradleyburns]

The best book ever about the engineering, history, and politics of the Panama Canal is called "The Path Between the Seas." It's a long read but fascinating. I read it shortly before a Panama Canal cruise and seeing it in person really brought home what a staggering achievement it really was.

[michaelquinn]

Sailed through several times ….still amazes me the sheer spectacle and engineering feat 🇬🇧

[empicek]

** BREAKING NEWS **
While the French started constructing a canal on the isthmus of Panama they were unable to finish, because of a few issues, but the recurring problem of malaria was the main one. The United States then acquired the land, solved the problem of malaria; then proceeded to construct the Canal we know today (minus the expansion by the Panama Government).

[HistoryVideoGamesMiscStuff]

I look at this and think "these country spanning projects cost less than installing light rail in my city".

[Franzuino]

A quick correction, the french started the project, not the US. But that was a economic failure. American bought it of the french, and took a different aproch, with locks. That was a success.

[iamsokyut]

we just passed the canal 3 weeks ago and it was such an amazing experience. a definite bucket list checked off.

[william_marshal]

Don't tell us about the history of the canal, we know it ... tell us, as the title suggests ... The future of the Panama canal !!!

[gregparrott]

Thumbs up for a concise presentation of the contenders. None of the options would 'replace' the Panama canal, but would augment it. I've run some numbers on the rail option. It adds too much infrastructure, labor, rail, rail maintenance and fuel costs, as well as delays, not to mention engaging multiple ships to do what is otherwise done by one, to be cost competitive with just keeping good on one ship before being unloaded. What about dredging the Panama? Each meter of height reduction of the transit relative to the oceans reduces the canal outflow by ~4%, and that dredging need only be done at the shallower chokepoints. Yes, it's only an aid, not a solution. But the same applies to the rail alternatives

[julianfp]

I wonder how many Brits got a similar shock to me when you discussed the potential cost of the Nicaragua proposal and presenting the $64.5bn cost as being so massive. That really was a bit of a wake up call when I put it into a UK context with a recent Guardian article last week reporting that the latest cost estimates for the scaled back HS2, just the 230km of track between London King’s Cross and Birmingham, now “could pass £80bn” (just over $100bn at today’s exchange rates).

Even if the Nicaragua canal came in at 50% over budget (maybe partly to mitigate environmental impact and ensure appropriate compensation for affected communities) it would still be slightly cheaper than a new railway line between London and Birmingham. With the downward effect a new mega-canal could have on global shipping prices, something that should feed into global trade benefits, I suspect that might have a somewhat bigger global impact than shaving about 25 minutes off the journey time between 2 UK cities that aren’t that far apart in the first place.

[trimmerman]

Mexico's rail option is probably the best. On the Asia side they do turnarounds in 8 hours. Modern container shipping is fast in every way. It won't replace the Panama canal. Panama has a huge capacity, even at 60% of typical. Mexico won't replace the canal. What it will do is break the monopoly. The client cost will have to be figured out in time. It will probably be slightly higher than the canal. However, Panama's days of high robber Baron behaviour will be over. It may be worth it, just for that.

[study_legal_history]

Back in the 1980s, it was suspected a ship from the Pacific Ocean dumped its bilge water into the Atlantic Ocean and the diadema urchin was progressively wiped out northward to the Florida Keys. This urchin normally ate algae off of the reefs; without it, the reefs were overgrown and coral was choked out. Air travel and inter-ocean travel has increased the spread of disease. Another factor to consider.

[gregknipe]

crossing the terrain of the Sierra madre with reliable mass rail will be a major challenge. corruption will be another.

[garybulwinkle]

The canal can be easily saved! Just pump the water through the locks instead of letting it flow out to sea!!! This is a no brainer!!!

[marcinamnesiac]

The French were the first to attempt to build the Panama Canal, starting in 1881 not USA.

[jmfa]

One thing to consider is that global trade has existed largely due to the largess of the US Navy guaranteeing safe passage to vessels not aligned with her enemies. Since COVID, and since the growing backlash against Chinese trade practices, along with the US Navy's downsizing since the Cold War, global trade will likely look very different in the next 20 years than it did in the previous 20 years.

[szamitogep]

100% sure that the Mexican railway would be the best !