Good Morning from Germany, where the heatwave is already hitting the country’s economic arteries. Rhine water levels at Kaub – a key bottleneck on Europe’s industrial waterway – have fallen 0.20m in just 3 days to around 0.83m, the lowest since April 2025.
That matters: the Rhine is a crucial transport route for Germany’s chemical industry, including BASF, Covestro and Evonik. Low water can restrict barge loads, raise logistics risks and disrupt supply chains. For now, barge rates to Basel are still flat – but the heat is on.