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Rhine Barge Freight Hits New 10-Month High

OIL PRODUCTS

Freight rates for barges on the Rhine have climbed to a new 10-month high Oct. 19, as ongoing low water levels limit navigable capacity, according to Bloomberg data.

  • The current diesel barge freight rate is currently EUR 57/mt, up from EUR 55/mt the previous day and the highest level since late December.
  • Currently, the maximum navigable diesel load on the Rhine is 600 mt, Mitchell van der Hoeven, a broker at Riverlake told Bloomberg.
  • By comparison, payloads of 1800 mt were being loaded in July.
  • Water levels at the key chokepoint at Kaub are currently. 73cm, the lowest since March 2022.. However, levels are expected to rise to 90 cm by Oct. 21.
  • A water level of 90 cm should allow for barges to load about 1k mt, van der Hoeven said to Bloomberg. This could take some pressure of freight rates.
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