AdvertisementThe megaship which blocked the Suez Canal for six days in March set sail Wednesday following a compensation deal between Egypt and the vessel's Japanese owner. Egypt seized the ship after an urgent salvage operation and demanded compensation from Japanese owners Shoei Kisen Kaisha for lost canal revenues, salvage costs and damage to the canal. 'The Suez canal has always been a site of sacrifices since it was built,' he said. The Suez Canal earned Egypt just over $5.7 billion in the 2019/20 fiscal year, according to official figures - little changed from the $5.3 billion earned back in 2014. Sisi had overseen the $8 billion expansion of a northern section of the canal to much fanfare in 2014-15.

Source: Daily Mail July 07, 2021 11:34 UTC