Ocean going ships, well yes (though crewed by more than two), but what barges can take thousands of tons?
They'd displace megalitres of water in the canal, and literally empty the locks. I think we would have to enlarge our canals to Panama depth and width.
Europe has managed to do it.
They started their canals after the UK, so had the benefit of seeing how not to do it
Napoleon came up with a standard lock size which is a lot bigger than ours, and there have been revisions since.
But 5,000 DWT barges are common in Europe, and could be in the UK as well, if we started on a 50 year program to enlarge them to European standards
Panama size though, I think is beyond what is possible in the UK, but many of our ports can take Panamax ships, and as no one on this island is further than 60 miles from the sea it means that (driverless) trucks can do the last miles