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Currently the Panama Canal can only accomodate 5% of the world's ships. It consists of two canals. A third canal is under construction. When it is completed, it will be much wider and should be able to accommodate most of the world's largest cargo ships. The Panama Canal is a 48 mile long ship canal in Panama that joins the Atlantic Ocean and the Pacific Ocean and is a key conduit for international maritime trade. Built from 1904 to 1914, the canal has seen annual traffic rise from about 1,000 ships early on to 14,702 vessels measuring a total of 309.6 million Panama Canal/Universal Measurement System (PC/UMS) tons in 2008. In total, over 815,000 vessels have passed through the canal. It has been named one of the seven modern wonders of the world by the American Society of Civil Engineers. One of the largest and most difficult engineering projects ever undertaken, the canal had an enormous impact on shipping between the two oceans, replacing the long and treacherous route via either the Strait of Magellan or Cape Horn at the southernmost tip of South America. A ship sailing from New York to San Francisco via the canal travels 5,900 miles, well under half the 14,000 miles route around Cape Horn. The concept of a canal in Panama dates to the early 16th century. The first attempt to construct a canal began in 1880 under French leadership, but was abandoned after 21,900 workers died, largely from disease (particularly malaria and yellow fever) and landslides. The United States launched a second effort, incurring a further 5,600 deaths but succeeding in opening the canal in 1914. The U.S. controlled the canal and the Canal Zone surrounding it until the 1977 Torrijos–Carter Treaties provided for the transition of control to Panama. From 1979 to 1999 the canal was under joint U.S.–Panamanian administration, and from 31 December 1999 command of the waterway was assumed by the Panama Canal Authority, an agency of the Panamanian government. While the Pacific Ocean is west of the isthmus and the Atlantic to the east, the 8- to 10-hour journey through the canal from the Pacific to the Atlantic is one from southeast to northwest. This is a result of the isthmus's