The cost of shipping oil products on the Rhine River rose as freezing temperatures in Switzerland delayed the flow of rainfall, reducing water levels.

The cost of shipping gasoil to Duisburg in Germany from Rotterdam or
Amsterdam rose to 4.25 euros ($6.16) a metric ton yesterday, compared
with 3.5 euros on Jan. 11, according to Oil Market Report data on
Bloomberg. Prices for shipping gasoil to Cologne and Karlsruhe also
rose.

Water levels along the Rhine have dropped in the past week. The water
clearance levels at Kaub, west of Frankfurt, fell 13 centimeters (5.1
inches) to 2.02 meters today, according to Bloomberg data. That’s the
lowest level in three weeks. Lower water levels mean less cargo can be
loaded onto vessels, cutting capacity.

The Rhine is Germany’s main waterway, used by companies including
chemicals maker BASF SE for shipment of goods. The river runs from
Switzerland to Rotterdam, Europe’s largest port. Temperatures in
Switzerland have been below usual levels for the past week, Ludwig
Zgraggen, a forecaster at the Swiss Weather Service said by phone from
Zurich.

Gasoil is used mainly as a heating fuel. Germany is its biggest market in Europe

Source: Bloomberg

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