Rhine River to Drop Further
Water levels at Kaub, a key waypoint west of Frankfurt are poised to plunge to 33 centimeters by Aug. 15.
Below the 40 centimeter mark, most barges hauling goods from diesel to coal are effectively unable to transit the river.
The Rhine is the most important method for transporting fuels from the Amsterdam-Rotterdam-Antwerp region to Germany and Switzerland, and the river’s shallow depths could disrupt the trade of as much as 400,000 barrels a day of oil products, according to Facts Global Energy.
That’s roughly three-quarters of the volume of goods like diesel and jet fuel that were shipped along the river last year to these two countries.
Bloomberg 12 August 2022
Container ships are carrying a fraction of their usual cargo to reduce their draught,
leading to higher transportation costs and severe delays in deliveries
FT 12 August 2022
European electricity prices hit new highs
German baseload power for delivery next year, the benchmark European price, was up more than 5 per cent on Thursday at a record €455 per megawatt hour. This is five times higher than the price this time last year.
The equivalent French contract was up 4 per cent, exceeding €600 per megawatt hour for the first time.
FT 11 August 2022
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