PANAMA CANAL AUTHORITY
Illya Marotta ’ s work for the Panama Canal spans over three decades , full with excellence awards and other accolades
For more than a century , the Panama Canal has been the most important conduit for international maritime trade among the largest global manufacturers , reducing marine cargo journeys for timely merchandise delivery . After opening in August 15 , 1914 , the canal was controlled by the United States , until 1977 , when the handover to Panama began by mutual control under signed treaties between the two nations . Finally , in 1999 , Panama obtained full control of the canal , creating the Panama Canal Authority ( ACP ), which began operations in December 31 , 1999 .
After assuming total control before the turn of the century , the ACP has performed ongoing endeavors to provide efficient management , preservation , profitability , maintenance and improvements of the canal .
Canal Expansion Project
One of ACP ’ s most important projects began on September 3 , 2007 : the Panama Canal Third Set of Locks expansion project , which includes the creation of a new traffic lane , permitting transit for more , larger ships , increasing an average of 10 to 12 more ships in transit per day , which would double the canal ’ s current capacity , also allowing Postpanamax size ships to transit with a 13,000 TEU maximum capacity .
Two new locks are being built , one in the Atlantic and the second one in the Pacific , each
104 June 2015