Efforts to free the Ever Given container ship from the Suez Canal are growing more urgent as a backup of vessels grows. Shipping experts are warning that a resumption of traffic through the channel could still be days, if not weeks, away, the WSJ’s Costas Paris and Benoit Faucon write, and big shipping lines including A.P. Moller-Maersk and Hapag-Lloyd are considering diverting some vessels. Tugboats and a dredger have been trying to partially refloat the massive container ship and move it out of the way. But the operation is described as an increasingly tricky engineering and logistics challenge, with the bow of the ship still wedged deep into one side of the canal. Evergreen has hired Dutch ship-salvage specialist Smit Salvage to help with the operation. In the meantime, shipping operators estimate the value of the cargo stranded at the canal at around $12 billion.

The blockage at a key choke point for global trade has retailers and manufacturers bracing for possible rising costs and growing supply-chain complications. Some shippers and freight forwarders say they are looking at using pricier airfreight if the backup isn’t cleared in the coming days. The WSJ’s William Boston and Sarah Nassauer report that European retailers would be most affected by delays in the flow of goods from Asia, while factories are watching for parts shortages. Executives at some businesses are weighing the uncertain costs of waiting for the canal to reopen against the expenses and timing of other transportation options. Freight rates for shipping containers from Asia to Europe have remained steady during the Suez blockage after soaring over the past year as retailers and manufacturers have rushed to restock inventories depleted during the pandemic. Experts say that could change if the situation drags on.

The fallout from the Suez Canal blockage is already rippling through the energy industry. The cost of renting tankers is rising and ship operators are starting to plot alternative routes for supplies of oil and gas, the WSJ’s Benoit Faucon, Sarah McFarlane and David Hodari report, as yet more new vessels joined the crowded entrance to the waterway. About one-tenth of the world’s seaborne oil trade flowed through the Suez and an associated pipeline in 2018. The cost of renting a tanker from the Middle East to Asia has jumped 47% this week. At least one U.S. export of liquefied natural gas appears to have been rerouted toward South Africa’s Cape of Good Hope to avoid the risk of getting stuck. Ship broker Braemar ACM estimates some 2 million barrels a day of crude and refined oil products are currently stuck at the canal, or about 2% of global oil consumption.

Automotive technology trends are raising expectations for a growing array of raw materials. South African platinum miners are raking in record amounts of cash and reinvesting in their mines, the WSJ’s Alexandra Wexler reports, in a bet that vehicles powered by hydrogen fuel cells will help lift demand. Profits for miners of platinum group metals including palladium and rhodium are soaring after years of low prices. Demand for platinum, which is used in the catalytic converters that scrub out pollutants from diesel engines, had suffered as car makers began to transition from internal combustion engines to electric vehicles. But hydrogen fuel cells rely on platinum and the technology is drawing greater interest, with Toyota Motor and Hyundai Motor both moving into the sector. That’s breathing new life into mining companies that are spending large amounts of money to boost production for the first time in a decade.

Weekly U.S. jobless claims fell to 684,000, the lowest level of the pandemic. (WSJ)

The oil industry’s top lobbying group will push Congress for legislation to price carbon emissions across the economy. (WSJ)

China wiped H&M from digital platforms including e-commerce after the apparel retailer said it would stop sourcing from China’s Xinjiang region. (WSJ)

Intel’s multibillion-dollar revival plan reflects a growing view among tech executives that booming demand for computer chips will continue beyond the pandemic. (WSJ)

Berkshire Hathaway is pitching Texas lawmakers on a plan to build power plants that would run during electricity emergencies. (WSJ)

India suspended vaccine exports as the government gives priority to expanding its domestic immunization campaign. (WSJ)

More than 1,200 potential suppliers turned out for a Foxconn event supporting its plans to build electric vehicles. (Nikkei Asia)

Providers of insurance against shipping delays say claims are already coming in over the Suez Canal backup. (TradeWinds)

Investment bank Jefferies projects Maersk Line will earn a $14.5 billion operating profit this year. (ShippingWatch)

Orient Overseas Container Line is considering an order of up to 10 dual-fuel vessels with capacity for 15,000 containers each. (Lloyd’s List)

Sweden’s Port of Gothenburg is opening a container terminal for intra-European transport. (Port Technology)

Real-estate investment manager BentallGreenOak raised $819 million for a new European logistics fund. (IPE Real Assets)

A court case in Texas will test Amazon’s claim that it isn’t liable for the safety of products sold on its platform. (Financial Times)

Retailer Nordstrom is moving to centralized procurement with a single master contract for all its suppliers. (Logistics Management)

Logistics company Savage will build and operate an intermodal rail terminal in Pocatello, Idaho, under an agreement with Union Pacific. (Idaho Statesman Journal)

A trucking industry study says the size of jury verdicts in cases involving truck crashes has grown dramatically in the past decade. (CNBC)

Trucker Roadrunner Freight raised $50 million in an equity private placement led by GlobalTranz founder Andrew Leto. (DC Velocity)

Annual profit at freight forwarder Kerry Logistics rose 58% last year on a 30% gain in revenue to $6.9 billion. (Air Cargo News)

Startup iFoodDS raised $15 million in a funding round backing its food supply chain tracing business. (VentureBeat)

Paul Page is editor of WSJ Logistics Report. Write to him at paul.page@wsj.com.

Follow the WSJ Logistics Report team: @PaulPage, @jensmithWSJ, @CostasParis. Follow the WSJ Logistics Report on Twitter at @WSJLogistics.