Asian shares head higher, oil falls as Suez Canal ship re-floated

Salvage teams have freed a container ship stuck in the crucial waterway since last week, blocking hundreds of vessels.

Asian share markets have edged higher while oil prices slipped as a giant ship blocking the Suez Canal was refloated, raising hopes the vital waterway could reopen and ease global shipping backlogs. Salvage teams freed the Ever Given in the Suez Canal on Monday, according to maritime services provider Inchcape, almost a week after the giant vessel ran aground in one of the world’s most important trade routes. While the 400-meter-long (1,312-feet) ship is floating again, it was not immediately clear how soon the waterway would be open to traffic, or how long it will take to clear the logjam of more than 450 ships that are stuck or on the way to the Suez.