Welland Canal The Welland Canal is located is St.Catharines, Ontario Canada. Ships tranist from Lake Erie to Lake Ontario, it has 7 locks which raises or lower the ships 45' per lock and each lock holds 23 million gallons of water and the last Lock lowers approx. 3 feet. Total lift from Lake Erie to Lake Ontario is 325' and it takes a full size ship 740' long X 78' wide ten hours to transit canal. A full size ship pays $23,000.00 to transit canal. The reason the yachts and ships fly Canadian flags is it is a courtsey flag of the country they are in.