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Panama Canal expansion to redefine U.S. trade

Tuesday, December 3, 2013

The Panama Canal, 101 years after it was created, is set to cause a surge in U.S. exports across the commodities sector once the $5.2 billion expansion project is completed.

The U.S. agriculture sector stands to gain the most from the expansion, further entrenching America as the world's main grain supplier.

The expansion will also allow large oil and gas carriers, which currently have to sail all the way round South America to Asia, to pass through the canal, bringing the shipping days from 41 to 25.

Source: Business Insider