The Community Television Foundation of South Florida, Inc created a great video which explores the history of the transfer of the Panama Canal from the United States to Panama, and the long political and moral battles behind it. The documentary highlights the controversial Panama Canal Treaties of 1978, the two-decade long transition period, and the official transfer of the Canal to Panama in 1999.
Cargo traffic through the Panama Canal rose 2 percent in the 2014 fiscal year to 326.8 million tonnes.
The small annual rise was helped by a bumper harvest in the United States, with farmers sending their crops via grain tankers to customers in Asia, Panama Canal Administrator Jorge Quijano said in a statement.
He added that during the fiscal year, which runs from Oct. 1 to Sept. 30, toll revenue was up 3.2 percent over last year, at $1.91 billion.
The 100-year-old canal, which is a major global trade artery, is in the midst of a massive expansion that will allow the world’s largest tankers to pass through the isthmus and double the income from the Panama Canal.
The expansion, which involves building a third set of locks onto the 50-mile (80-km) waterway will be completed in early 2016.