Which types of ship most use the Panama Canal?

The majority of traffic on the Panama Canal, which accounts for 3% of global maritime trade, was made up of container ships and bulk carriers, according to BNamericas data, based on information from the Panama Canal authority ACP.

Bulk carriers represent 27.9% of all traffic on the waterway, followed by container ships at 24.2%. Reefer vessels come in third at 8.4%, according to the data.

The canal is taking on a vast, US$5bn expansion project to add a third set of locks. The project, slated for completion in December 2015, will allow ACP to handle ever larger ships from the first quarter 2016.

President Juan Carlos Varela said the country needs to prepare for the Panama Canal's next phase of modernization, which could include a fourth set of locks by 2030.

Meanwhile, ACP head Jorge Luis Quijano met in August with China Harbour Engineering Company president Mo Wenhe to discuss the Chinese company's interest in building the fourth set of locks.

This is against a backdrop of potential challenges a proposed US$50bn canal in Nicaragua would present. Works in Nicaragua were launched near Christmas but many hurdles remain for the project to get actually completed.