ICS and Suez Canal Authority sign landmark agreement

Chamber of Shipping > Blog > News > International > ICS and Suez Canal Authority sign landmark agreement

The International Chamber of Shipping (ICS) and the Suez Canal Authority (SCA) have signed a Memorandum of Understanding (MOU) covering key issues impacting international ship owners and operations of the Suez Canal. The year-long commitment 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 decarbonization. The organizations 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 cooperation between the two organizations, 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 decarbonization effort, 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.

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