Under the 1977 Panama Canal Treaties brokered by Carter, the U.S. officially relinquishes control of the famous waterway at noon on Dec. 31.

Martín Torrijos, who was president of Panama from 2004 to 2009, announced at a news conference on Monday that he had been notified by the U.S. government that his visa had been canceled.

Depending on the size, weight, and type of vessel, ship owners often pay anywhere between $15,000 and $300,000 in basic fees ...