The MV Ever Given, which is longer than four football fields, has been wedged diagonally across the span of the canal since Tuesday, blocking the waterway in both directions.
Marine traffic through the canal will restart once the ship is directed to the lakes area - a wider section of the canal, the SCA said.
"SCA has made a decision to postpone the next refloating attempt until sufficient tug power is in place", it said, adding "a likely time for the next attempt is Monday evening".
Officials began preparing to unload cargo from the Ever Given after the massive cargo ship has remained lodged in the Suez Canal since Tuesday.
Some shippers rerouted their cargoes around the Cape of Good Hope, adding up to two weeks to journeys and extra fuel costs. At least 320 vessels are waiting to pass through from the Red Sea to the Mediterranean or vice versa, costing billions of dollars a day.
That translates to some 0.2 to 0.4 percentage points of annual trade growth each week.
Despite some predictions that the megaship could be refloated soon, Lloyd's List, a shipping data and news company, said on Sunday there was a "surge" in the number of vessels opting to go around Africa.
"Most major container lines are now diverting ships round Cape of Good Hope and warning of supply chain disruption ahead. Some are starting to reject bookings", it said on Twitter.
After further dredging and excavation over the weekend, efforts by rescue workers from the SCA and a team from Dutch firm Smit Salvage worked to free the ship using tug boats in the early hours of today, two marine and shipping sources said.
Rabie said the canal was losing $13-14 million in revenue daily after halting traffic due to the grounded ship and that 369 vessels were waiting to transit the canal.
In a previous statement on Friday, SCA announced dredging 17,000 cubic meters of sand and mud by Mashhour dredger around the Ever Given ship's bow, with rate of dredging reached about 87 percent.
The Ever Given, a 224,000-ton vessel nearly as long as the Empire State Building is tall, ran aground in the Egyptian canal on March 23.
Success in clearing the Ever Given bill be a relief not just for its Japanese owner, Taiwan-based operator, and the global shipping industry, but also for Egyptian President Abdel Fattah al Sisi, the Journal reports.
The German radio, NDR, said that ongoing European discussions at the level of the European Union are demanding that EVER GIVEN ship should be prevented from passing through any port in Europe due to its repeated technical problems that affect global navigation and the failure of its captain to control it.
But Rabie on Saturday acknowledged that "technical or human errors" led to the Panama-registered super container ship's grounding.
Allianz warned the blockage was "the straw that breaks global trade's back".
"The blockage of the Suez Canal is an additional constraint to an already challenging and volatile situation for global supply chains brought on by the pandemic", an IKEA spokesperson said.
Some 369 ships are now stalled as they wait for the canal to reopen, Rabie told the Al-Arabiya news channel Sunday.
Russian Federation offered assistance Sunday, following other countries including the United States that have made similar offers.
Suez Canal ship 'now moving,' owner says
Crews from Egypt and around the world have been working nonstop to try to refloat the ship, but previous efforts have failed. The pair have a combined pulling capacity of around 400 tons, said spokesman Martijn Schuttevaer.
Fuel rations in Syria as Suez Canal jam persists
Three shipping agents said on Saturday that none of the ships waiting at the canal's entrances had yet requested to be rerouted. Those involved in salvage efforts have given varying predictions about how long it could take to reopen the canal.
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With an 11- 0 score at the end of the game, Germany started the Shanghai Women’s World Cup with a world record win. Women’s World Cup 2007 Germanys women’s team opened the World Cup with a bang against Argentina.
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Now if that isn’t the epitome of what a BFF is, I don’t know what is! Selena continues to be on chronic medication. There is also a huge list of celebrities past like famous painter vincent Van Gogh who suffered with this disease.