We also built a 27-year demand forecast, accompanied by a working model, for the operation of Panama Canal. This model was used during the financing stage of the expansion project. It allows a user to select customized model output criteria, change key assumptions, test various sensitivities, and instantly view the results of customized scenarios.
Despite the fact that this model was designed to be evergreen, meaning that it allows for all critical inputs to be updated, there was a significant upheaval because of the Global Financial Crisis in 2008/2009 and the ACP wanted to confirm that the model still accurately represented all market trends. We therefore performed a calibration of the demand model to ensure continued accuracy. The Panama Canal handles as much as 5% of global trade.
The expansion will thus guarantee its continued prominence into the 21st century.