 A long breakwater was built, along with piers and docking terminals.The opening of the Panama Canal in 1914 caused a severe reduction of port activity as Valparaíso lost its vital role as the major stopping point for shipping going from the North Atlantic to the North Pacific via the Magellan channel.The Imperial German East Asia Squadron engaged the British West Indies Squadron on 1 November 1914 at the Battle of Coronel off the coast of Valparaiso, sinking two British cruisers.