21 August 2012 17:08 [Source: ICIS news]
LONDON (ICIS)--Low water levels in the river Rhine in Germany have led ship owners and charterers to achieve higher freight rates on barge journeys, sources said on Tuesday.Continued hot weather across Europe has seen water levels on the ?xml:namespace>
“On current water levels, a 3,000 tonne barge is able to take around 39% to 44% of its capacity to the upper
With barge owners not fully utilising their capacities and bunker fuel costs remaining at high levels, another broker said that; “charterers and owners continue to push for higher rates to recoup on losses made on these inefficient journeys.”
“Many have achieved success in gaining higher rates,” he added.
According to data from the German waterways authority, levels in Kaub,
With rainfall forecasts in the region lower than expected for this time of year, sources expect rates to increase further as water levels continue to fall.
Last week, sources in the methanol market said transport barges on the river Rhine had been forced to reduce their loads along certain stretches because of low water levels, caused by recent warm weather and a lack of rain.
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Additional reporting by Ross Yeo
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