The International Chamber of Shipping (ICS) and Egypt’s Suez Canal Authority (SCA) have signed a Memorandum of Understanding (MOU) covering key issues impacting international ship owners and operations of the Suez Canal, according to ICS's release.
The yearlong commitment, signed during a meeting at the SCA head office, will increase information sharing and negotiations on the movement of global trade through the Canal. It will open communication on long-term strategies for toll pricing, environmental protection, and decarbonisation.
This MOU represents a formalisation of dialogue between ICS and SCA. The organisations hope it will lead to in-depth collaboration on operational and structural policies of the Canal, the safety and security of transiting vessels, and enhancing pilotage, towing and repair services.
The agreement follows a period of close co-operation between the two organisations, who have been in regular contact over the Covid-19 pandemic, and during the grounding of the Ever Given in 2021.
Egypt is increasingly positioning itself as a key figure in the shipping sector’s decarbonisation, and the country will host COP27 this November. A maritime delegation led by ICS is scheduled to return to Egypt for the UN climate summit to continue meaningful dialogue on shipping’s transition to net-zero.
This was the first in-person meeting between ICS and the SCA since July 2015. The previous visit focused on the widening of the southern canal, and an overview of the dual canal construction system, which has since been completed.
The International Chamber of Shipping (ICS) is the principal international trade association for merchant shipowners and operators, representing all sectors and trades and over 80% of the world merchant fleet.