The Panama Canal Authority has announced the commercial opening of the Panama Canal expansion will be Sunday June 26 of this year. Soy Transportation Coalition Executive Director Mike Steenhoek says that’s great news for the U.S. soybean industry that will lead to enhanced exports of soybeans to Asian markets.
He says the widening and deepening of the existing channels at the Panama Canal with the expansion will mean Asian soybean customers will see significant savings.
Steenhoek says the Panama Canal expansion sends a clear message to U.S. policy makers about the need to upgrade U.S. infrastructure and our inland waterway system.
Besides the widening and deepening of the existing channels at the Panama Canal, there will be construction of two new sets of locks, one each on the Atlantic and Pacific sides as well as excavation for new entrance channels to the new locks.
