Well where would be a more suitable route? Probably River San Juan would be more suitable, but the Costa Ricans will fight that every inch of the way instead of enjoying the economic benefits that would come with the canal.
So the only logical route would be via Bluefields, up the River Escondido then through Lake Managua.
The Canal will come with a highway, two airports, and a ground canal (train system). You can kill two birds with one stone by making it near a town that is developed but lacks something critical-- a highway connecting it to the rest of the country.
Nicaragua's main port is El Bluff, but unlike anywhere else in the world, all the shipments landing in El Bluff are then placed on smaller boats and transported to Rama or Managua through the river system increasing transportation costs.
So you're not going to build a canal without fixing that major lack of modern transportation. Routing via Bluefields enables them to utilize El Bluff, keep Bluefields viable, etc.
Finally, as ACDU pointed out in its PR, Bluefields already serves as a hub for the major fiber optic system that brings Central America its data transmission capability. Certainly, that's a consideration when creating a canal.
Starting the canal anywhere else except near Bluefields appears illogical and unreasonable.
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