Chronic low water levels along key European chemicals shipping artery the River Rhine are having a significant impact on the amount of product that can be transported, according to sources on Monday.
German chemical major BASF said on Monday it had been forced to reduce production at its Ludwigshafen, Germany, site.
Limited rainfall and heatwave temperatures have caused water levels to fall below 100cm along long stretches of the thoroughfare, with market sources reporting that barges are loading at 50% capacity or below.
Other market participants have reported ships carrying chemicals running aground in recent days, and transportation costs soaring as a result of the limited freight capacities.
Comments
Post a Comment