The canal revenues were down about $15m/day. If it really cost $7b a day, then Egypt is massively undercharging.
Obviously an extreme example, but the situation with this ship is likely similar. The damages probably far exceed the $15m/day in revenue (though I suspect they are far lower than $7b per day).
This is where someone steps in and says something to the tune of "Whatever price you're willing to pay is by definition reasonable" and completely ignore the ethical/moral issues with essentially holding someone's life for ransom by charging the maximum price they can get for something they need to survive.
Oh, wait, water's already a monopoly: https://en.wikipedia.org/wiki/Natural_monopoly
2. This isn't like a monopoly on water supply, because the ships don't have to go this way. To make the analogy work you'd have to add something like "everybody already has a well, but supplying tap water is cheaper than using a well". In such a situation, a water company that's maximizing profits would charge just a little bit less than using a well, and while it would annoy people it wouldn't harm them.
3. The government stops water companies from gouging for the good of the citizens, which isn't a factor here.
If we want to go with "everyone has suitable access to rainwater for important household use", then it changes the impact of the water company overcharging. It goes from despicable to mundane.
https://rurallivingtoday.com/homesteading-today/is-it-illega...
If you're going to run an extortion racket, you need the power to secure yourself against the inevitable challenges to your station. Egypt is in no position to handle and armed threat from the US, China, or even most European nations. Their government would be toppled and a sympathetic one would be installed who would lower shipping prices to something on the cheap side of fair.
A little history https://en.wikipedia.org/wiki/Suez_Crisis
The Israel, British, and French insurrection completely dominated the Egyptians. The US wanted to carry favors with Egypt to prevent them to falling into the communist sphere, so it applied a pressure campaign against the British and French that completely wrecked the European economies (and from which they never really recovered). It didn't work, Egypt did not become an American ally in any meaningful way, and instead the West lost control over one of the most important shipping lanes in the world, turning it into a corrupt mess where you have to pay for passage in cigarette boxes and bribes.
It was one of the biggest foreign policy fuck-ups of the USA, in my opinion.
It's a huge mistake to regard any international trade in the middle east as regulated by simple supply and demand curves. This is a site of world geostrategic focus, usually at the expense of the people that live there.
(Interestingly, both have been practiced towards Israel at different times, as the countries have gone from bitter enemies to cautiously aligned against both Iran and Sunni Islamism of the Brotherhood/Hamas flavor.)
You'd be wrong there! They actually have a rebate system[0] based on a number of factors including origin and destination. Basically, they try to make it so that its always cheaper to go through the canal, rather than sail around.
[0] https://www.wilhelmsen.com/ships-agency/suez-canal/suez-cana...
The cost here was for the interruption to the schedules, not the daily cost of operations normally.
End of the day, the big shippers can price in the two week delay to round Africa, and higher tolls could make a competing railway feasible. As it is China will probably have built a rail corridor in a few decades.