Introduction:
The Panama Canal is an engineering marvel connecting the Atlantic and Pacific Oceans, facilitating global trade between East and West. With the completion of the expansion project in 2016, the new work on the Panama Canal has significantly enhanced its capacity and efficiency. This study aims to provide a detailed report on the key aspects of the new work and its impact on global maritime trade.

Overview of the Expansion:
The expansion of the Panama Canal involved the construction of a third lane of locks, doubling the capacity of the canal. The new locks, known as the Neopanamax locks, can accommodate larger and wider vessels, thereby opening up new opportunities for trade. The project also involved deepening and widening the navigation channels and improving the overall infrastructure.

Benefits of the Expansion:
1. Increased Capacity: The new work has nearly tripled the canal's capacity, allowing larger vessels, known as Post-Panamax ships, to transit through the canal. This has resulted in a significant increase in the volume of goods that can pass through the canal, reducing costs and benefiting global trade.

2. Economic Implications: The expansion has boosted the economy of Panama, generating employment opportunities and attracting increased foreign investment. The efficiency gained through the expansion has also attracted new shipping routes, benefiting ports along the East Coast of the United States, Latin America, and Asia.

3. Environmental Sustainability: The new locks incorporate water-saving basins that reuse 60% of the water during each transit. This sustainable approach ensures efficient water resource management and minimizes the environmental impact of the expansion.

Challenges and Criticisms:
1. Cost Overruns: The expansion project faced numerous delays and cost overruns, leading to a significant increase in the initial budget. These challenges were primarily due to the complexities involved in managing such a large-scale engineering project and unforeseen geological conditions.

2. Environmental Concerns: The expansion project encountered criticism related to its potential impact on the environment, including the disruption of ecosystems and increased greenhouse gas emissions due to larger vessels transiting through the canal.

Impact on Global Maritime Trade:
1. Route Optimization: The new work on the Panama Canal offers a shorter route for vessels travelling between Asia and the East Coast of the United States. This has prompted many shipping companies to reroute their vessels, resulting in reduced transit times and costs.

2. Diversification of Trade Routes: The expansion has led to the development of new trade routes, such as the Canal-Suez-Mediterranean route, which offers an alternative to the traditional Canal-Africa-Cape of Good Hope route. This has benefited countries along these routes and promoted economic integration among regions.

Conclusion:
The new work on the Panama Canal has revolutionized global maritime trade by enhancing the canal's capacity, improving efficiency, and facilitating the transit of larger vessels. Despite the challenges faced during its construction, the expansion has proven to be a game-changer, with significant economic and environmental implications. As the world evolves, the Panama Canal remains a vital artery for international trade, connecting continents and driving economic growth.