Today, the Panama Canal has greatly reduced the need for cargo ships to travel via the Horn. However, sailing around the Horn is widely regarded as one of the major challenges in yachting, and a number of recreational sailors continue to sail this route, sometimes as part of a circumnavigation of the globe. Several prominent ocean yacht races, notably the Vendée Globe, sail around the world via the Horn, and speed records for round-the-world sailing follow the same route.