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Suez Canal and The Arab Company for petroleum pipelines (Sumed) are currently studying new procedures to attract large oil carriers that cannot cross the Suez Canal with full Cargo charge. The large carriers are reducing the charge in El Ein El Sokhna port on the Red Sea to be transferred via Sumed pipeline to Sidi Krir port on the Mediterranean. The oil is then loaded back in the Mediterranean after crossing the Suez Canal.
The new procedures include the revision of the crossing fees and the possibility of offering more discounts proportional to the volume of oil being transferred. Also nolon prices are revised for carriers with 63 feet plunger that cannot cross the Suez Canal with full charge.
Cooperation between Suez Canal authority and Sumed started back in 1997. Since 1997 till June 2003, 280 carriers have crossed Suez Canal carrying 51 million tons of crude oil and have generated a total revenue of $33 million
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