Massive Cargo Ship "Re-floated"

Container ship has been stuck in an egyptian canal.

News 18's cody melin joins us from the alert desk this morning.

Cody, it's hit a week of being stuck.

Is it going to free up any time soon?

Hey, good morning there marlee.

A week has gone by since the massive ever given boat got stuck in the suez canal.

But some good news to share.

It appears the boat has been quote "re- floated" overnight.

In case you've been under a rock this past week.

Take a look at your screen.

This is the boat in question.

Last week the boat got stuck sideways in the canal, blocking all boat traffic.

But you may be asking yourself, why is this such a big deal?

The bockage is holding up 9 billion dollars each day in global trade i did some research about the canal and found this is where 10% of global trade, including 7% of the world's oil, takes place.

As of this morning, 367 vessels are still waiting to pass through the canal.

For those not wanting to wait, they've decided to travel around africa, adding two weeks to their shipping time.

Of course, i've been watching this closely.

If the canal does become freed up, i will update you all on our social media accounts.

At the alert desk this morning.

Cody melin, news 18.