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Commodities

Suez Canal chairman says losses from Ever Given blockage could reach $1 billion

FILE PHOTO: A view shows Ever Given container ship in Suez Canal in this Maxar Technologies satellite image taken on March 29, 2021. Satellite image ©2021 Maxar Technologies/Handout via REUTERS

CAIRO (Reuters) - The chairman of the Suez Canal Authority said on Wednesday, in an interview with Egypt’s Sada El-Balad TV, that losses and damages from the Ever Given blockage could reach around $1 billion.

“The amount of damage and losses, and how much the dredgers consumed, will be calculated. Estimates, God willing, will reach a billion dollars and a little bit more, this is the country’s right,” the chairman, Osama Rabie, said.

Reporting by Omar Fahmy; Editing by Leslie Adler; Writing by Nayera Abdallah

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