When the 80-kilometer (50-mile) Panama Canal opened in 1913, it was considered an engineering marvel—and the waterway has been an integral commerce link ever since. When the Panama Canal transferred from U.S. to Panamanian control in 2000, the Panama Canal Authority (ACP) faced an unprecedented challenge: operation for the first time as a commercially viable enterprise. It must meet this challenge while adjusting to the ever-changing demands of the world shipping industry—as the industry grows, so does the size of the container vessels traveling the historic waterway.

For the past four years, PB has aided the ACP in this endeavor by providing management advisory services on a long-term master plan for the canal's future, as well as expertise in support of canal expansion programs. The proposal for the expansion of the canal, to include two new locks of sufficient size to accommodate ships three times as large as Panamax vessels, was approved by the Board of Directors on April 24, 2006.