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.