There are ulterior reasons for this seizure, of course, but Egypt's proffered excuse is almost deliberately and insultingly specious. I.e., it doesn't cost anywhere within two orders of magnitude of a billion dollars to move some sand no matter what cooked numbers the country provides. And 98% of the ships waiting for a week are still going through the canal anyway, so passage-fee revenue will quickly catch up to equilibrium.

(If the Egyptian govt's seizure is not part of a planned white-hat operation, then such a preposterous seizure amounts to flagrant piracy, and would result in steeply-jacked insurance premiums for any vessel and cargo utilizing the Suez.)