The Suez Canal (SC) is an artificial sea-level waterway running north to south across Egypt to connect the Mediterranean Sea and the Red Sea. The canal is the fastest crossing from the Atlantic Ocean to the Indian Ocean . Tolls paid by the vessels represent an important source of income for the Egyptian Economy.

 The current philosophy of SC tolls is based on considering in general the  earning capacity of the transiting vessel according to her type, comparing the ships costs through the SC route with other alternative routes, and sharing part of the saving achieved by transiting vessel, though in fact the calculations are not done based on the actual route of each vessel.

The current research makes use of the current boost in the information technology and the timely published  international scales and indices for calculating the earnings and the costs a ship incurs during her service to suggest a new toll calculation method. This new method will respond to the volatile maritime transport sector and guarantees an equality of chances for the vessels transiting the canal. The method  focuses on calculating the transit tolls on a case by case basis for each vessel as a percent of the savings due to passing via the SC while considering the different aspects of the costs on a timely basis.

Oil tankers are taken as a case study to calculate the savings and compare them to the tolls enforced by the SC. The study includes historical and recent data for the savings and the tolls already collected. Also the environmental impact related to the reduced sailing time via SC and consequently less fuel consumed and reduced emissions will be outlined.