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.
The yearlong commitment aims to increase information sharing and negotiations on the movement of global trade through the Canal. It will also open communication on long-term strategies for toll pricing, environmental protection, and decarbonisation.
Through the MOU the organisations hope the will promote 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.
Admiral Osama Mounier Mohamed Rabie, Chairman and Managing Director of SCA, remarked on the occassion:
We adopt an ambitious vision to reinforce the pivotal role of the Suez Canal Authority amid the international community of maritime navigation, and the benefit of our clients is our major priority
For his side, Esben Poulsson, Chairman of the ICS, commented that “the maritime industry is at an inflection point as we earnestly begin our transition to a renewable future. The conversations we have had this week leave me with great confidence that Egypt will be one of the leaders of industry’s green transition, leaning on its position at the heart of the maritime world.”
During April, the Egyptian Prime Minister Dr. Mostafa Madbouly witnessed the signing ceremony for two memoranda of understanding for projects – one of which aims to produce green fuel for bunkering in the Suez Canal Economic Zone (SCEZ).
