​The Suez Canal Authority and Maersk Group sign a strategic partnership agreement

The Suez Canal Authority and A.P.Moller-Maersk Group have announced in a joint press release the commencement of the return of vessels affiliated to the Group to transiting through the Suez Canal as of early next December as a precursor to the full-capacity return. This came after the bilateral discussions between both parties which have culminated in signing the strategic partnership agreement.
Adm. Ossama Rabiee, Chairman and Managing Director of the Suez Canal, and Mr. Vincent Clerc, CEO of A.P. Moller-Maersk Group, have witnessed the signing ceremony of the strategic partnership agreement between the SCA and the Group at the New Marina building in Ismailia.
This agreement is a continuation of the joint and long-standing cooperation over many decades, and aims to set an integrated framework of future cooperation.

On his part, Adm. Rabiee highlighted that the return of Maersk-affiliated vessels represents a revert in the right direction towards the optimal route for the sustainability of global supply chains as the shortest, fastest and most secure waterway linking the East and the West.
H.E. added that the strategic partnership agreement is considered a vital link in the future of joint relations between both sides as it opens new horizons of cooperation in various maritime and logistical fields. That is in addition to retrieving traffic through the Suez Canal which recorded 1158 ships in 2023 at a total net tonnage of 127 million tons, generating revenues of 733 million Dollars.

Adm. Rabiee underlined that the Peace Summit held in Sharm El-Sheikh has succeeded in promoting peace in the Red Sea and Bab El-Mandab region. It has also succeeded in paving the way for restoring the rates of traffic in the region back to normal within the upcoming period. H.E. pointed out in this regard that navigation statistics have witnessed positive indicators during October and November of this year amidst projections that the upcoming period will witness further recovery and improvement, offering a salute of deep appreciation and gratitude to H.E. President Abdel Fattah El-Sisi for his efforts in diffusing the crisis, ending the war and restoring stability to the region once more.
H.E. shed the light on the immediate and direct impact of the Sharm El-Sheikh Peace Summit as it achieves its goals of restoring stability in the region where traffic statistics are beginning to recover; recording the transit of 1136 vessels at a total net tonnage of 47.1 million tons and generating 372.9 million Dollars in October of this year, compared to 1136 vessels at a total net tonnage of 40.4 million tons and generating 322.1 million Dollars in October of last year.
Admiral Rabiee also addressed the expected traffic statistics of the Suez Canal during November, which witnessed a continued recovery with the transit of 1,156 vessels, carrying a total net tonnage of 48.5 million tons and generating total revenues of $383.4 million. This compares to 1,000 vessels, carrying a total net tonnage of 38.3 million tons, and generating total revenues of $300.6 million during November of last year.

The Chairman of the Suez Canal Authority revealed that the coming period will witness intensive discussions with all shipping lines to review and adjust sailing schedules and the timing of vessels resuming transit through the Red Sea and Bab el-Mandab Strait. H. E. noted the advanced discussions held with CMA CGM, which resulted in a resolution to fully resume transit through the Suez Canal and Bab el-Mandab Strait in December. He commended the fruitful cooperation with shipping agencies as partners in overcoming obstacles and enhancing communication with clients.

Admiral Rabiee emphasized that since the outbreak of the Red Sea crisis, the Suez Canal Authority has been proactive in communicating with all shipping lines, enhancing and diversifying its service network, and bolstering its fleet with various types of new maritime units. He added that the Authority has also adopted a bundle of flexible pricing policies, including a 15% toll reduction for container ships with a tonnage exceeding 130,000 tons.
On his part, Mr. Vincent Clerc, CEO of A.P. Moller-Maersk Group, expressed his appreciation for the Suez Canal Authority's policies in addressing various challenges, affirming that direct and effective communication between the two sides has remained uninterrupted throughout the past period.

He added that the Suez Canal is not only a vital maritime route for Maersk Group but also a strategic partner in East Port Said Container Terminal. He extended his thanks and appreciation to H. E. President Abdel Fattah El-Sisi for his full support and attendance at the inauguration ceremony of several terminals at East Port Said Port, which represented the culmination of the partnership's efforts and its depth.
The CEO of A.P. Moller-Maersk Group stressed that the Suez Canal has been, is, and will remain a pivotal pillar for the shipping operations of Maersk Group vessels. He emphasized that the return of the Group's vessels to transit through the Suez Canal is a positive step that will be followed by the return of many other shipping lines to the Red Sea region and the Suez Canal.

Mr. Clerc emphasized that the Suez Canal is the most suitable and efficient waterway for global trade between East and West. In this regard, he noted that the security challenges witnessed in the Red Sea region over the past two years have led to increased shipping costs and freight rates, affecting all countries worldwide.
He explained that Maersk Group places great hope in the peace agreement signed in Sharm El Sheikh and the subsequent global momentum toward de-escalation. This has been accompanied by a stability in the security situation in the Red Sea, culminating in the signing of the strategic partnership agreement as a crucial step toward the resumption of transit through the Suez Canal. He anticipates a full capacity return to transiting through the Canal soon.

In closing, Mr. Clerc expressed his hope to see Maersk's mega vessels transiting through the Suez Canal at full capacity again, and for the Canal to regain its pre-crisis transit volumes.
The signing ceremony was attended by Admiral. Ashraf Atwa, Vice Chairman of the Suez Canal Authority, and members of the Authority's Board of Directors. Representing the Maersk Group were Mr. Ahmed Hassan, Vice President of Operations of A.P. Moller-Maersk, and Mr. Hany El Nady, A.P. Moller-Maersk Group Representative in the Middle East and North Africa.
The agreement was signed by Engineer Gamal Abu El-Kheir, Director of the Management Department at the Suez Canal Authority, and Ms. Rabab Boulos, Chief Operating Officer, Member of the Executive Board of A.P. Moller-Maersk Group.