History of the Panama Canal
During World War II, the canal proved a vital part of the U.S. military strategy, allowing ships to transfer easily between the Atlantic and Pacific. Politically, the Canal remained a territory of the United States until 1977, when the Torrijos–Carter Treaties began the process of transferring territorial control of the Panama Canal Zone to Panama, a process completed on 31 December 1999.
Panama Canal expansion project
By January 2016, Panama's President Varela indicated that he anticipated the expansion to be complete around May 2016. The expanded canal began commercial operation on 26 June 2016. The first ship to cross the canal using the third set of locks was a modern New Panamax vessel, the Chinese-owned container ship "Cosco Shipping Panama." The United States dispatched a navy ship to Panama to demonstrate U.S. naval power to the Chinese ship.