The Ever Given, the 1,312-foot container ship blocking Egypt’s Suez Canal and causing a global bottleneck in shipping, is free at the stern after almost a week blocking the crucial shipping passage, CNN reports.

Though the Dutch company working to refloat the ship has freed the stern, the bow is still mired in the bottom. Officials are pinning their hopes on this morning’s high tide, which could refloat the entire ship.

An estimated 400 vessels are awaiting removal of the Ever Given to gain passage through the canal; the shipping delay has cost as much as $10 billion daily in lost trade.

The ship is operated by Taiwanese transport company Evergreen Marine and is one of the world's largest container vessels. Strong winds reportedly caused the ship, which is carrying about 18,000 shipping containers, to run aground on March 23, causing massive global shipping delays.