Vessel Blocking Rhine River in Germany Near Kaub Chokepoint




  • In Business
  • 2022-08-17 11:29:11Z
  • By Bloomberg
 

(Bloomberg) -- A vessel is blocking the Rhine River south of Cologne after it suffered a technical fault, further hampering the operations of barges used to ship goods along one of Europe's key waterways.

Most Read from Bloomberg

  • Saudi Billionaire Made $500 Million Russia Bet at War Onset

  • America's $7 Trillion Retirement Crisis Is Only Getting Worse

  • 'Next Generation' Moderna Coronavirus Booster Jab Approved for Use in Adults

  • These Six Cities Are Emerging as New Expat Hot Spots

  • Cheney Loses GOP Primary, Vows to Keep Trump From White House

A section of the river between St. Goar and Oberwesel is closed, a spokesman for the WSA water authority said. That's on a narrow part of the river near the closely watched Kaub chokepoint.

The affected vessel is made up of four parts, which will have to be separated from one another before they can be towed away. That's being worked on and it's possible that the river will reopen as early as today, the spokesman said.

Read more: Veteran Barge Company Says Business on Upper Rhine Is at Risk

Low water levels are hampering the shipment of commodities along the Rhine River, which snakes for about 800 miles from the Swiss Alps down to the North Sea. This latest setback only adds to the logistical difficulties already facing shippers.

The closure is only a few kilometers downriver from Kaub, where the measured water level is currently so low that it's uneconomical for many commodity-hauling barges to sail through. That's hampering the shipment of vital goods to locations further upriver, including parts of southern Germany and Switzerland.

While the river between St. Goar and Overwesel may be reopened relatively quickly, low water levels are set to continue hampering shipments for some time yet.

The latest forecast for Kaub is for an increase to 49 centimeters (19.3 inches) early Aug. 21 local time -- while a slightly deeper river potentially brings a sliver of relief to shippers, many barges will still be severely restricted in how much cargo they can carry through the chokepoint at that level.

Most Read from Bloomberg Businessweek

  • Whole Foods' Battle Against Black Lives Matter Masks Has Much Higher Stakes

  • Andreessen Horowitz Thinks It's Time for Adam Neumann to Build

  • Chinese Shun Debt and Pile Up Savings, Threatening Global Growth Engine

  • Being Thrown Off Social Media Was Supposed to End Alex Jones's Career. It Made Him Even Richer

  • Women Are Smashing the Construction Industry's Concrete Ceiling as Labor Shortages Leave a Void

©2022 Bloomberg L.P.

COMMENTS

More Related News

Truss Faces More Turmoil as Pound Plunge Extends Into New Week
Truss Faces More Turmoil as Pound Plunge Extends Into New Week

(Bloomberg) -- Most Read from BloombergBank of England Says Paper Banknotes Only Good for One More WeekThe Great Bond Bubble Is 'Poof, Gone' in Worst Year...

Al Gore Calls Out
Al Gore Calls Out 'Greenwashing' Risks as Funds Quit Green Club

(Bloomberg) -- Al Gore, the former US vice president turned climate activist, said investors are growing increasingly impatient with evidence of potential...

Stock Traders Brace for a Steeper Dive as Fed Ups Recession Fear
Stock Traders Brace for a Steeper Dive as Fed Ups Recession Fear

(Bloomberg) -- A hawkish Federal Reserve crushed whatever hope investors had, plunging the stock market into a doom spiral last week and sparking traders...

John Paulson on Frothy US Housing Market: This Time Is Different
John Paulson on Frothy US Housing Market: This Time Is Different

(Bloomberg) -- John Paulson became a billionaire after his hedge fund effectively shorted more than $25 billion of mortgage securities at the dawn of the...

Financial Crisis Redux Looms in Asia as Major Currencies Crack
Financial Crisis Redux Looms in Asia as Major Currencies Crack

(Bloomberg) -- Asian markets risk a reprise of financial crisis-level stress as two of the region's most important currencies crumble under the onslaught of ...

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

Top News: Business