The Suez Canal is operated through the Suez Canal Authority (SCA) which is an independent governmental authority enjoying absolute powers through the Canal. This brings us to the Suez Canal tolls; the SC transit tolls are calculated in SDR on basis of the Suez Canal Net Tonnage (SCNT). The SCA has set a constant coefficient for each type of vessel that differs depending on each vessel’s SCNT and also in case the vessel is in ballast or laden condition.
The SCA is trying to adopt a commercial approach striving to add new clients while maintaining old ones, and hence, is taking into account that when calculating the canal tolls, in some cases, it would be more beneficial for vessels to pass around the cape of Good Hope instead of transiting the Suez Canal.
Our claims handlers attended an interesting conference, which was held in Cairo during the period 22-24 February 2016. The Conference was entitled the Suez Canal Global Conference, Challenges and Opportunities. The conference was inaugurated by the Egyptian Prime Minister, and was attended by a number of ministers and the Suez Canal Authority’s chairman. Eng. Naguie Ahmed Amin, the conference general secretary notes that one of the objectives of the conference is to reiterate the global presence and impact of the Suez Canal.