A two-month dispute over cost overruns has caused setbacks on the construction of the Panama Canal, and caused a headache for the energy industry which is banking on its expansion. Now that construction is underway again, ports, shippers, and producers of liquefied natural gas are breathing a sigh of relief.
The Panama Canal, a 100-year-old waterway which links Asia to the U.S., has been under construction to widen and deepen its canals since 2007. Construction, including all the dredging work and a new lock system, comes with a price tag of more than five billion dollars. CCTV’s Ginger Vaughn reports from Houston, Texas.