The Suez Canal Authority and A.P. Moller-Maersk Group announced the signing of a strategic partnership agreement that will enable the return of Maersk-affiliated vessels to transit through the Suez Canal starting early next December, ahead of a full-capacity return.
The signing followed bilateral discussions and was witnessed by Adm. Ossama Rabiee, Chairman and Managing Director of the Suez Canal Authority, and Vincent Clerc, CEO of A.P. Moller-Maersk Group, at the New Marina building in Ismailia. According to the Suez Canal Authority, CMA CGM also plans a full-capacity return next December.
The agreement continues longstanding cooperation between the parties and sets a framework for future collaboration. Adm. Rabiee said the return of Maersk-affiliated vessels marks a move toward what he described as the optimal route for sustaining global supply chains. He added that the agreement opens new avenues of cooperation in maritime and logistical fields, alongside restoring traffic through the Suez Canal, which recorded 1,158 ships in 2023 with total net tonnage of 127 million tons and revenues of $733 million.
Adm. Rabiee referred to the impact of the Peace Summit held in Sharm El-Sheikh, saying it contributed to promoting stability in the Red Sea and Bab El-Mandab region. He cited traffic statistics showing 1,136 vessels transiting the Canal in October this year with a total net tonnage of 47.1 million tons and revenues of $372.9 million, compared with 1,136 vessels, 40.4 million tons, and $322.1 million in October last year.
He also noted expected November figures of 1,156 vessels carrying 48.5 million tons and generating $383.4 million, compared with 1,000 vessels, 38.3 million tons, and $300.6 million in November last year. He said further discussions with shipping lines are planned to adjust sailing schedules, citing advanced talks with CMA CGM that resulted in a decision to fully resume transit through the Suez Canal and Bab el-Mandab Strait in December.
Adm. Rabiee said the Authority has expanded its service network and upgraded its fleet since the start of the Red Sea crisis, while adopting flexible pricing measures including a 15% toll reduction for container ships over 130,000 tons.
Vincent Clerc praised the Suez Canal Authority’s response to recent challenges and emphasized uninterrupted communication between the parties. He said the Canal is both a key shipping route for the Group and a strategic partner in East Port Said Container Terminal. He reiterated that the Suez Canal “has been, is, and will remain” a pivotal element of Maersk Group operations.
According to him, the Group’s return to the Canal is expected to be followed by the return of other shipping lines. He noted that security developments in the Red Sea over the past two years had increased shipping costs and freight rates worldwide and expressed hope that the peace agreement signed in Sharm El-Sheikh, along with improving security conditions, will support a full-capacity return soon.
The Suez Canal Authority is an Egyptian state entity responsible for the operation, maintenance, and development of the Suez Canal.
It manages navigation services, levies transit fees, and oversees infrastructure projects connected to the waterway. The Authority acts as both the regulator and operator of the Canal.
A.P. Moller-Maersk Group is a Denmark-based publicly listed conglomerate and a major participant in global container shipping and logistics. The Group operates through multiple subsidiaries engaged in ocean transport, port operations, and integrated supply-chain services.
CMA CGM is a France-based privately held global shipping and logistics group. It operates container shipping lines worldwide and maintains businesses in logistics, air cargo, and port activities through affiliated entities.
