who owns and operates the panama canal today
Panama Canal Authority Panamanian government Panama
title: Panama Canal text: Cape Horn route around the southernmost tip of South America via the Drake Passage or Strait of Magellan. Colombia, France, and later the United States controlled the territory surrounding the canal during construction. The US continued to control the canal and surrounding Panama Canal Zone until the 1977 Torrijos–Carter Treaties provided for handover to Panama. After a period of joint American–Panamanian control, in 1999, the canal was taken over by the Panamanian government. It is now managed and operated by the government-owned Panama Canal Authority. Annual traffic has risen from about 1,000 ships in 1914, when the canal opened, to title: Panama Canal Authority text: Panama Canal Authority The Panama Canal Authority () is the agency of the government of Panama responsible for the operation and management of the Panama Canal. The ACP took over the administration of the canal from the Panama Canal Commission, the joint US–Panama agency that managed the canal, on December 31, 1999, when the canal was handed over from the United States to Panama as per the Torrijos–Carter Treaties. The Panama Canal Authority is established under Title XIV of the National Constitution, and has exclusive responsibility for the operation, administration, management, preservation, maintenance, and modernization of the canal. It is title: Panama Canal Authority text: Authority Board of Directors is made up of the following members: Panama Canal Authority The Panama Canal Authority () is the agency of the government of Panama responsible for the operation and management of the Panama Canal. The ACP took over the administration of the canal from the Panama Canal Commission, the joint US–Panama agency that managed the canal, on December 31, 1999, when the canal was handed over from the United States to Panama as per the Torrijos–Carter Treaties. The Panama Canal Authority is established under Title XIV of the National Constitution, and has exclusive responsibility for the operation, title: Panama Canal text: million: $5 million upon ratification, and four-$5 million annual payments, and grant Colombia special privileges in the Canal Zone. In return, Colombia recognized Panama as an independent nation. The US formally took control of the canal property on May 4, 1904, inheriting from the French a depleted workforce and a vast jumble of buildings, infrastructure, and equipment, much of it in poor condition. A US government commission, the Isthmian Canal Commission (ICC), was established to oversee construction; it was given control of the Panama Canal Zone, over which the United States exercised sovereignty. The commission reported directly to Secretary of title: Panama Canal text: the former Italian governmental navigation company known as the "Italian Line". This service can be requested from the Panama canal authority at any time who will consider each request. Panama Canal The Panama Canal () is an artificial waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean. The canal cuts across the Isthmus of Panama and is a conduit for maritime trade. Canal locks are at each end to lift ships up to Gatun Lake, an artificial lake created to reduce the amount of excavation work required for the canal, 26 m (85 ft) above sea level,