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50 Pounds Refloating the Ship
| Issuer | Central Bank of Egypt |
|---|---|
| Year | 2022 |
| Type | Non-circulating coin |
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| Obverse description | Within a central beaded circle, the large numeral '50' appears prominently in the field, with the Arabic word 'جنيهاً' (pounds) inscribed below. The Arabic legend 'جمهورية مصر العربية' (Arab Republic of Egypt) curves along the upper periphery, flanked by the Gregorian year '٢٠٢٢' and the Hijri year '١٤٤٣' positioned at left and right respectively. At the lower exergue, the Suez Canal Authority logo — depicting a stylized vessel over three wavy lines — is shown in relief. |
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| Edge | Reeded |
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| Additional information |
Egypt's "Refloating the Ship" commemorative was issued to mark the salvage of the Ever Given, the 400-meter container vessel that ran aground in the Suez Canal in March 2021 and blocked one of the world's most critical shipping chokepoints for six days. The Egyptian Suez Canal Authority oversaw the operation, which required a fleet of tugboats and dredgers working around the clock before the vessel was freed on 29 March.
The blockage is estimated to have cost global trade between $6 and $10 billion per day. Egypt collected a salvage fee reported at $550 million from the vessel's Japanese owners before releasing it.