The need for boats and ships to round Cape Horn was greatly reduced by the opening of the Panama Canal in August 1914. However, sailing around Cape Horn is still widely regarded as one of the major challenges in yachting. Thus a few recreational sailors continue to sail this route, sometimes as part of a circumnavigation of the globe. Almost all of these choose routes through the channels to the north of the Cape. (Many take a detour through the islands and anchor to wait for fair weather to visit Horn Island, or sail around it to replicate a rounding of this historic point.) Several prominent ocean yacht races, notably the Volvo Ocean Race, the Velux 5 Oceans Race, and the Vendée Globe, sail around the world via the Horn. Speed records for round-the-world sailing are recognized for following this route.