Newly expanded Panama Canal opens for bigger business

Panama is preparing to officially open its canal this weekend to far bigger cargo ships after nearly a decade of expansion work aimed at boosting transit revenues and global trade. President Juan Carlos Varela will unveil the new locks and third shipping lane built into the 102-year-old canal. A Chinese-owned Neopanamax-class cargo ship will be the first vessel to officially test the new infrastructure, entering from the Atlantic and exiting into the Pacific a few hours later.