The Suez Canal Authority said that all 422 ships that had been waiting for the massive "Ever Given" cargo ship to be freed passed through the canal as of Saturday, clearing the backlog caused by the blockage, Reuters reports.
Why it matters: The cargo ship was stuck for six days causing downstream damage to the global economy. The Suez Canal is a vital connection between European and Asian Markets, with approximately 30% of global container shipping volumes passing through, Axios' Jacob Knutson reports.
