Editor's Pick: The Suez reopens

The Hindu Newsletter - The Hindu Newsletter - Editor's Pick [The Hindu Logo]( [Facebook]( [Twitter]( [Youtube]( [Linkedin]( [Instagram]( Tuesday 30, March 2021 [alt_text]( Editor's Pick The Suez reopens [alt_text]( (The Editor's Pick is a new newsletter from The Hindu that provides a snapshot of the most important stories from today's edition of our newspaper, along with a note from our top editors on why we chose to give prominence to these stories.) The stranded [container ship blocking the Suez Canal for almost a week was re-floated]( on Monday and the [canal was finally reopened to traffic](, sparking huge relief and scenes of jubilation as tugboat crews sounded their foghorns. [The Japanese-owned megaship that went off course]( and lodged itself on the sandy banks of the Suez was the length of four football fields and dislodging it was an ordeal. Salvage teams that [had worked for six days and nights]( were finally assisted, according to media reports, by the moon and the tides in their efforts. World oil prices eased on the news of the reopening of the waterway and the head of the Suez Canal Authority (SCA), Admiral Osama Rabie, had around 3pm local time (1300 GMT) "announced the resumption of shipping traffic in the Suez Canal," the authority said. The SCA cautioned, however, that it will take [more than three days to clear the traffic jam]( of [ships stuck at the northern and southern ends of the canal.]( To say that the fate of the global trading system lay in the balance as this rescue operation was underway is no understatement. As much as 13% of all maritime trade, from oil to automobiles, pass through the canal every year. And the delay in reopening the channel has already had [a huge impact on export businesses](, commodities, ship and cargo companies and perhaps even Egypt’s national economy. About 19,000 ships passed through the channel in 2020 carrying 1.2 billion tonnes of cargo, according to the Suez Canal Authority, and maritime data company Lloyd's List said the blockage had held up an estimated $9.6 billion worth of cargo each day between Asia and Europe. [The Suez Canal]( is so crucial because when it comes to shipping goods from Asia to Europe, there are virtually no alternatives such as rail or truck transportation. Supply lines for cotton from India for instance, or auto parts from China are entirely dependent on this route. This latest Suez crisis has been a stark reminder, and warning perhaps, about the power of globalisation and how much the global economy and trade is interconnected. That marks this story out as our top pick of the day. Was this newsletter forwarded to you? Head over to our newsletter subscription page to sign up for Editor's Pick and more. [Click here]( Try out The Hindu's daily news quiz According to a CARE Ratings report, which State has the highest revenue deficit among the poll-bound States? 1. West Bengal 2. Tamil Nadu 3. Kerala 4. Assam To find out the answer and play the full quiz, [click here]( The Big Story [Coronavirus | India registers 68,020 cases, 291 fatalities]( [alt_text]( From the Front Page [alt_text]( [Only 5.4% of houses under Centre’s flagship scheme reached completion so far this year]( [alt_text]( [Mufti denied passport after 'adverse' CID report]( From the Opinion Pages [alt_text]( [What could be driving Mumbai’s COVID surge?]( [alt_text]( [Indian history and distorted narratives]( Today's Editorials [Peaceful start: On first phase o](f Assembly elections [Beating the best: On India's win]( over England You are receiving this email because you are a user of [thehindu.com]( If you do not wish to receive any such emails, [unsubscribe here.](mailto:rm-0bfddx31bf2f90kaup33rtbysa8hkmw@newsalert.thehindu.com?subject=Unsubscribe&body=You will be unsubscribed from our mailing list.) To ensure you continue to receive emails from The Hindu in your inbox, please add newsletters.th@newsalert.thehindu.com to your contact. If you can't see the mailer, please [click here.]( Group Sites [The Hindu]( | [இந்து தமிழ் திசை]( | [Business Line]( | [BL on Campus]( | [Sportstar]( | [Frontline]( | [The Hindu Centre]( | [Images]( | [roofandfloor]( | [Classifieds]( Copyright @ 2021 ,THG PUBLISHING PVT LTD. [About Us]( | [Contact Us]( | [Digital Subscription](