Panama Canal Auction Hits New Record at $5.3 Million
By Ruth Liao, Lucia Kassai and Nicholas Lua (Bloomberg) — A shipper needing to transit the Panama Canal bid a record $5.3 million to secure its spot, according to people familiar...
Gate installation for the new locks of the expanded Panama Canal began this week, marking the next phase of construction in the $5+ billion expansion project.
The gate installed measures 10 meters wide by 30.19 meters in height and weighs 3,285 tons. It is one of 8 rolling gates to be installed on the Atlantic side of waterway. Another 8 will also be installed on the Pacific side.
The video below shows installation of the gate. As you can see, there is just enough room to wiggle the gate into place. Reminds me of the day I got a new couch and had to get it into my apartment, only they seem to be way more calculated. PIVOT!
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