There is therefore no doubt a latency period

The kick-off of the enlargement of the Panama canal was given Sunday. The Panamanians have approved this project with 78 of the vote in the referendum organized by the Government. A plebiscite to put into perspective because 57 of the 2.1 million voters abstained, which did not prevent the President of this small country, Martin Torrijos, to celebrate this "historic decision". "The benefits of the channel will be used to pay our social debt", he promised, referring to the difficult situation of most Panamanians, including 40 still live in poverty and who have little benefited since 1999, the boom linked to the canal trade.

The work must begin in the next year and last for seven to eight years. The project, whose estimated cost is $ 5.2 billion, provides for the construction of a new way of navigation through a different set of locks. It must allow boats up to 366 metres long, 49 metres wide and 15 metres of draught of water, or well beyond the current maximum template that can pass through the canal, said "Panamax". The challenge is to respond to the trend of the shipyards to build large ships, "post-Panamax". Another objective of the site: address to the next saturation of the canal expected in 2012, according to the authority of the canal of Panama (ACP) doubling the operational capacity of the work.

"Culture shock".

It is true that queues elongate and part of this isthmus of 80 kilometres long, side as side Atlantic and Pacific, to avoid be locked several days, ships must book their tour of the months in advance. Because the canal Panama which represents 4 of international trade, and even 20 off hydrocarbons took advantage of the explosion of maritime trade in recent years, and including exchanges between China and the United States. Six years after the handover of the canal to Panama by Washington on January 1, 2000, 68 of traffic is still to origin or destination the United States, according to the CPA, who feared that, "If the queues lengthen, shipowners seek an alternative".

Yet, according to maritime brokers Barry Rogliano rooms (BRS), this project of enlargement is not necessarily good news for the owners. "The canal works very well at the present time." Shipowners have invested in stencil Panamax vessels, in many sectors, container ships, cruise or grain for which Panama is a truly strategic. This is less true for oil tankers. This enlargement will still be a culture shock: the boats will be more optimal but the owners will not be able to quickly renew their already recent fleet. There is therefore no doubt a latency period. "In addition, adds in BRS,"there is a loss of influence of Panama on the global trafficking, with the growth of the local Asian exchanges ".

Impressive campaign

Critics of enlargement of the canal not lacking, even though they were hardly able to be heard at the impressive campaign of electoral clubbing for the "Yes". For Miguel Bernal, Professor of law at the University of Panama, this project "responds to the interests of Panamanian oligarchy that will put hundreds of millions of dollars of bribes in the pockets".

Many, especially, are those who believe that the official cost of the project, clearly undervalued, could double and further benefit the multinationals to the Panamanian people. What the Government replies that the site will generate up to 35,000 indirect jobs. He plans to finance the cost increase in tolls (1.2 billion in 2005 to 14,000 ships) and stresses the crucial importance of the canal for the future development of the country. Of course, the work represents more directly than 12 to 15 of the GDP of the country (compared to 80 in the early 20th century). "But it is the engine of a tertiary 85, services and export-oriented economy," said the Ambassador of the Panama in France, Omar Jaen Suarez, in an interview with the magazine "Diplomacy", referring to the other activities, including the gigantic port cities and Colon, second free zone world, and the vast country Banking Center.