The New York Times » According to this investigatory report by The New York Times, the consortium that was awarded the $3.1 billion Panama Canal (“Panamax”) contract is seeking $3.4 billion in excess expenses. Construction on the megaproject was completed two years behind schedule due to internal disputes, work stoppages, porous concrete, cracks in the concrete, and water shortages. The Panamax was built to move 12 giant ship per day. However, the new locks can only handle up to three “neo-Panamax” ships per day, guided by tugboats driven in reverse, which is “something that cannot be done.”
