ship canal vs shipway

ship canal and shipway both are nouns.

Word	Noun	Adjective	Verb	Adverb
ship canal	Yes	No	No	No
shipway	Yes	No	No	No

As nouns, ship canal and shipway are synonyms defined as:

ship canal (noun)	shipway (noun)
a canal large enough for seagoing vessels	structure consisting of a sloping way down to the water from the place where ships are built or repaired
	a canal large enough for seagoing vessels