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According to media reports, giant container ship Evergreen has been re-floated and has restarted its engine after six days of being jammed diagonally across the Suez Canal and blocking traffic both ways. 

Sources said that the 400-meter ship is now straightened in the canal and would undergo safety inspections before being moved, opening the prospect that traffic might soon resume in one of the world’s most important trade routes. 

About 12% of the global trade passes through the Suez Canal each day, together with about one million barrels of crude oil and 8% of liquefied natural gas. 

The blockage at the canal further upset the global shipping sector that threatens another round of shipping cost hike due to longer containers and vessel turnover. Some shipping companies have decided to sail around the Cape of Good Hope in expectations of a prolonged delay in the Suez Canal, which could lengthen the trip to Europe by 13-14 days. 

Some Asian petrochemical suppliers are having cargoes en-route European market have expressed the concern. The delay in cargo arrival would tighten availability in certain markets.