The Suez Canal Authority and the International Chamber of Shipping have expanded cooperation as security pressure in the Red Sea continues to affect canal traffic and wider trade flows.

Admiral Ossama Rabiee, Chairman of the Suez Canal Authority, met Thomas Kazakos, Secretary General of the International Chamber of Shipping, in Ismailia to discuss supply chain disruption and coordination with the shipping industry.

Traffic through the canal has fallen from 2023 levels as risks around the Bab al Mandab Strait have led many operators to route vessels around the Cape of Good Hope. That shift has added weeks to voyage times and increased fuel costs.

Rabiee said the canal has continued operating without interruption. He said the authority had frozen transit dues and adopted more flexible pricing policies as part of its response.

The authority is also continuing infrastructure and service upgrades. These include the Southern Section Development Project, the addition of salvage and escort tugs, and new support services such as maritime ambulance assistance, crew changes and waste management.

Kazakos said the canal remains the fastest, shortest, safest and most sustainable route for trade between Asia and Europe. He added that contact with the authority helps shipping companies follow conditions more closely during the current period.

During the visit, both sides signed a Memorandum of Understanding to formalize longer-term cooperation. The agreement covers information sharing, joint marketing of canal services, coordination on maritime security and environmental compliance, pricing reviews and monitoring of canal infrastructure developments.

The visit also included tours of the Maritime Training and Simulation Center and the Suez Canal Museum.