Panama Canal Espansion Plans

By Finance

What is the future of the Panama Canal? Is it possible to be expanded? Alberto Alemán Zubieta past commissioner of the Panama Canal Authority thinks it is possible.
Mr. Alemán presented a design for expansion for $5.25 billion. More expansion might be done in the future.
Vessels are getting bigger and bigger, in order they to pass through the Panama Canal the same has to become bigger too. The project must continue.
The project will allow vessels with up to 13, 000 TEU to go through the Panama Canal.
More fuel-efficient ships and the growing price of bunkers are bringing 18,000-TEU ships onto the oceans. The Panama Canal can't handle them at the moment.
The expansion will benefit also harbors near the canal. The port of Charleston, Gulf Coast harbors etc.