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Panama Canal Expansion: Winners And Losers In US Economy

A tugboat advances toward the Miraflores Locks near the Panama Canal’s Pacific entrance. A vessel that can pass through the locks is classified as a Panamax, for the maximum size that can fir though the canal’s existing locks. (Lorne Matalon)

A tugboat advances toward the Miraflores Locks near the Panama Canal’s Pacific entrance. A vessel that can pass through the locks is classified as a Panamax, for the maximum size that can fir though the canal’s existing locks. (Lorne Matalon)

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“Time now is money, and a lot of money,” said Panama Canal tug captain Luis Estribi as sunlight danced on the water near the Panama Canal’s Pacific entrance at Ciudad de Panamá.

Estribi was guiding a vessel from China, the Tai Prosperity, through the canal’s Pedro Miguel locks to the Port of New Orleans. The Tai Prosperity, a carrier of bulk commodities such as grain, is classified as a Panamax ship.

Photo Gallery: Panama Canal Expansion

Panamax is a worldwide maritime shipping  measurement that refers to the maximum-sized vessel that can pass through this canal.

But today, Panamax is passé. Now, it’s all about post-Panamax, vessels that can carry up to three times the cargo as Panamax vessels. But post-Panamax vessels are too wide for the existing Panama Canal.

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