Maritime transportation is quite dependent on the existence and proper maintenance of canals and other maritime channels. Their size, as well as the size of their locks, has a great influence on international trade.
From an international logistics standpoint, several waterways are fundamentally and strategically important. However, these waterways have lost their monopoly, as alternatives have had to develop to circumvent their shortcomings. Absence of waterways can cause damage to international trade and the efficient movement of goods.
This canal was also expanded and is known as the Panama Canal Expansion.
You may read about it here.