A giant Chinese-chartered freighter nudged its way through the Panama Canal Sunday to mark the completion of nearly a decade of expansion work expected to boost global trade.

A giant Chinese-chartered freighter nudged its way through the Panama Canal on Sunday to mark the completion of nearly a decade of expansion work expected to boost global trade.

The vessel, specially renamed COSCO Shipping Panama, inaugurated the widened canal in an hours-long voyage from the Atlantic to the Pacific Ocean. Panamanian President Juan Carlos Varela says the expansion project cost at least U.S.$5.5 billion to complete.

A new wider and deeper channel now suplements the two existing channels, which will continue to be used. It's big enough to accomodate ships more than 48 meters wide and 15 meters deep, compared with the previous limit of 32 meters and nearly 12 meters.

Ships carrying 13,000 containers will be able to use the canal, up from a maximum of around 5,000 containers. Fifty-seven percent of trade flow in the shipping market of Americas is associated with the Panama Canal, including trade flows between the U.S. eastern coast, Asia, Europe and the western coast of Latin America.

A giant Chinese-chartered freighter nudged its way through the Panama Canal on Sunday to mark the completion of nearly a decade of expansion work expected to boost global trade.

A giant Chinese-chartered freighter nudged its way through the Panama Canal on Sunday to mark the completion of nearly a decade of expansion work expected to boost global trade.

A giant Chinese-chartered freighter nudged its way through the Panama Canal on Sunday to mark the completion of nearly a decade of expansion work expected to boost global trade.