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The Southern Canal of Argus is a major sea-borne waterway connecting the Mesder and Southern Seas. The canal is entirely within the sovereign territory of the Wellsian Hegemony but is controlled and maintained as a private enterprise.
The canal is open in peacetime to every vessel of commerce, recreation or of war without distinction of flag. Dues are to be the same for all nations, preferential treatment of any kind is forbidden.

The canal is managed and controlled by the Southern Canal Association (Pattu sa imitti Ru'utu) an open trading corporation, with certain limitations imposed by the Wellsian government to ensure the national security of the Hegemony.
The PsR is found on the Wellsian Stock Exchange (bet Mahiri) located in Hadast.
The PsR is controlled by a fourteen (14) member Board of Directors with three (3) members appointed by the King of Wellsia; four (4) members appointed by the Adrim (Wellsian Senate) and seven (7) members elected by the stockholders. The Chairman of the Board and the Directing Manager must be Wellsian citizens.
The corporation has 6 million shares, which at last report are trading at 3,350 Wellsian marks ($461.12 IAD).
The shares are divided into four parts, 256,518 shares controlled by the Wellsian Royal Family, 529,806 shares owned by the Wellsian Government, 2,383,980 shares that are sold on the open market, but are limited to be purchased only by Wellsian citizens, 2,829,669 traded on the open market without limitations. Except for the Royal Family and Wellsian government no individual, partnership or corporation may own more than 192,000 shares.

The Southern Canal has a total length of 93 kilometers and a standard width of 100 meters. There are four side channels each 10 kilometers long and 60 meters wide that allows ships to pass each other. The main channel is 15 meters deep and shallowest part of the canal is 10 meters.

The size of ships able to pass through the canal are listed as Southmax. A Southmax ship can be no longer than 380 meters and have a beam no greater than 53.8 meters. The maximum allowable draft is 12 meters.

The Cost of Using the Canal varies based on the size of the ship. Yachts with a length of less than 18 meters in length have a base charge of 1,000 Wellsian Marks ($130.19IAD). Yachts over 18 meters and less than 40 meters base a flat rate of 1500 Wellsian Marks ($195.29IAD). Yachts over 40 meters and less than 100 meters, used as a recreational vessel has a base rate of 2500 Wellsian Marks ($325.48IAD). Any yacht over 100 meters and under 200 meters with a crew of less than 100, solely used for recreational purposes has a flat base rate of 10,000 Wellsian Marks ($1,301,90IAD). All recreational vessels much be searched by members of the Wellsian Coast Guard before entering the canal.
All commercial and military vessels will pay a pilot fee of 8,500 Wellsain Marks ($1,106.62IAD) and a tonnage fee of 10 Wellsain Marks ($1.30IAD) per weight of ship and cargo.
* With the passing of Resolution 31 any merchant ship on an errand of mercy and under a bill of lading issued by the League's Food and Water Security Agency will still have to pay the pilot fee, but the tonnage cost is reduced to 3 Wellsian Marks ($0.39IAD) per ton and such ships will have priority passage.

History
For most of it's existence the Wellsian Hegemony with its capital at Hadast on the coast of the Mesder Sea has felt there was little profit in dealing with the nations of the Southern Sea. As time passed and the Hegemony spread out to include the whole length of isthmus and with the development of cities on the eastern coast, with the rise of the nations of Eastern Argus and Gael it became clear that trade to the east would become profitable. At first railroads were built across the isthmus connecting the new cities of the east with the more established west coast. In 1876 the first discussions of building a canal connecting the two seas begin. It was pressure from the navy to save money by having it where ships could serve in each sea without the delay of sailing around the South Argus coast that finally convinced the government of the importance of a canal. Actual building of the canal did not begin till 1897 and would continue for the next 15 years. Three times during this period the canal company went bankrupt and was sold. In 1907 the Wellsian Royal Family took interest and provided the funding to finish the canal for a permanent possession of 4.25% of all stocks. The Adrim fearing a loss of authority also voted to provide funds in return for a minimum of 8.75% of all shares. The final cost of building the canal was 433 million scales, (2,620 million scales in 2023), over twice the original estimate.
The first ship made the transit on March 18, 1912, today the canal averages 30 ships a day making the transit. The corporation pays the Wellsian government 7% of its profits annually, the remaining being paid to the stockholders.