Rhine water levels hit 2-month low
Water levels along the Rhine river, a key waterway for transporting commodities and other products from coastal areas to inland locations in France, Germany and Switzerland, fell to their lowest since May 21, Refinitiv Eikon data showed.Levels at the Kaub <WL-KAUB> location in Germany hit 201 centimetres and have been steadily declining since late June, the data showed.Oil barge brokers said the low water levels meant barges were leaving the Amsterdam-Rotterdam-Antwerp refining and storage hub to inland locations not fully laden.Water levels along the river hit a record low of 25 cm in October
Barge Breakaway Halts Mississippi River Traffic North of St. Louis
The Mississippi River closed to vessel traffic north of St. Louis on Wednesday after barges carrying loads of corn broke free from one another and struck a river lock, the U.S. Army Corps of Engineers said.The accident took place at Lock and Dam 25 near Winfield, Missouri, and involved a vessel towing 12 barges south on the river, said Army Corps of Engineers spokesman Scott Ross."It's a slowdown," he said. "Commerce can't go north or south."The Mississippi River and its tributaries are a key pipeline for moving grain from Midwest farms south to export terminals along the Gulf Coast, where about 60 percent of U.S. grain and soybean exports exit the country.The closure at Lock 25 sent spot barge freight rates sharply higher on Midwest rivers, barge brokers said.
Locks Failure Highlights US Infrastructure Woes
The Ohio River was closed to commercial navigation on Monday near Brookport, Illinois, after a hydraulic system used to open and close lock gates at lock and dam 53 failed, the Waterways Council said. A queue of more than 65 towboats was waiting to pass through the area on Monday morning, the group said in a news release. The closure was the latest headache for shippers scrambling to haul newly harvested soybeans from Midwest farms to export terminals along the Gulf Coast. U.S.
Gasoline Traders Begin Using Floating Storage
At least two tankers booked in recent days; Gasoline stocks at record high in Europe, U.S. Traders have begun storing gasoline on tankers off the coast of Europe as land storage tanks near maximum capacity, the latest sign of increasing stress in the refined oil products market. While demand for gasoline and its blending components was exceptionally high last year, particularly in the United States and China, a seasonal dip in demand has caused large product build-ups in the Atlantic basin in recent week. At least three long-range tankers have been booked for storage in recent days, according to shipping data, traders and ship brokers.
Rhine Shipping Goes Online
Dutch oil, chemicals and storage group Petroplus is one of the partners to launch an Internet-based portal and online exchange to transform the traditional Rhine-based shipping sector. Shippers, integrated barge owner companies, independent barge brokers and individual barge owners will have the opportunity to conduct business online through this portal, Petroplus said in a statement. The other founding shareholders of the project are BP Amoco, shipping and tank storage firm Royal Vopak and Germany's Marquard & Bahls AG which trades under the brand names Mabanaft and Oiltanking. The project is supported by the Rhine Barge Owners Association, Petroplus added. Management and technology consultancy Booz Allen & Hamilton will provide strategy and e-technology services to the venture.
