Suez Canal Authority chief Osama Rabie gave the all-clear Monday when he said "traffic is moving normally on the Suez Canal" after the authority had "mobilized four tugboats to tow the ship" allowing it to resume its passage through the canal.
The stuck ship was identified as the M/V Glory, carrying Ukrainian grain.
The Glory was passing through the canal on its route "from Turkey to China" when it experienced "a sudden technical failure," according to the SCA.
The ship was carrying a shipment of corn from war-torn Ukraine, according to the Black Sea Grain Initiative, an agreement involving Russia, Ukraine, Turkey and the United Nations.
Its blockage was first reported on Twitter by Norwegian company Leth, a shipping agency for many vessels in the Suez Canal.
"M/V Glory grounded while joining Southbound convoy near to al-Qantara," it wrote in a brief message. "Suez Canal Authority tugs are currently trying to refloat the vessel."
"The canal is on track to register 51 vessels passing in both directions Monday," he said in a statement.
Smooth traffic through the Suez Canal is vitally important for Egypt, the Arab world's most populous country, which is currently battered by an economic crisis that has seen the currency lose 75 percent in value in less than a year.
The waterway, used for about 10 percent of the world's maritime trade, is one of Egypt's main sources of foreign currency revenue, bringing in more than $7 billion a year.
This report was sourced with data by Reuters and Agence France-Presse.
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