Falling Rhine levels add pressure to already weak ULSD, 50ppm gasoil barge markets

Hellenic Shipping News | Nov 28, 2020 at 1:00 AM
  • Falling Rhine water levels leading to short loadings of barges are adding pressure to already weak ultra-low sulfur diesel and 50ppm gasoil barge markets in Northwest Europe.
  • When the water level nears one meter at Kaub, most oil product barges can only load half of their capacity, and even less if levels fall below one meter.
  • FOB ARA 50ppm barges were assessed at a $5.75/mt discount to the front-month ICE LSGO futures on Nov. 25 after reaching a nine-week low of $6.5/mt on Nov. 24.