By William Wilkes, Bill Lehane and Vanessa Dezem (Bloomberg) --The bustling boat traffic on Europe’s Rhine river ground to a halt for the first time in living memory last year, as shrinking alpine glaciers and severe drought made the key transport artery impassable. Those historic conditions could be repeated in a few weeks. With little rainfall recently, water levels at … [Read more...]
Rhine River Could Run Too Low Again for Shipping in Germany
By William Wilkes (Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes. Germany’s Rhine River could be impassable to ships again this summer if Europe has another drought, a once-rare weather phenomenon that’s becoming more likely with an increase in the temperature. That’s the … [Read more...]
Thyssenkrupp Improves Logistics After Rhine Low Water Crisis
By Tom Käckenhoff DUISBURG, Germany, Feb 27 (Reuters) - Thyssenkrupp will spend a mid double-digit million euro sum over five years to safeguard against a repeat of last year's low water crisis on the river Rhine, which hurt commodities flows and pushed up costs, a company official said. Emergency plans for personnel have been reworked, alternative modes of transport and … [Read more...]
Germany’s Dried-Up Rivers Cut Growth But the Rebound Is Coming
By Paul Gordon (Bloomberg) -- Sinking water levels on Germany’s industrial rivers probably shaved at least 0.7 percentage point off economic growth last year, adding to a series of shocks that almost tipped the nation into a recession. JPMorgan economist Greg Fuzesi estimated the impact of the high temperatures and low rainfall that dried up waterways -- most notably the … [Read more...]
Europe’s Most Important River Is Running Dry as Glaciers Shrink
By William Wilkes, Vanessa Dezem and Brian Parkin (Bloomberg) -- Kevin Kilps’s car ferry churns the waters of Germany’s Rhine river as he steers toward the bank opposite Kaub, a scenic village just south of the rocky outcropping named after the legendary siren Lorelei. It’s typically a busy stretch of waterway. On a normal day, the commuter ferry vies for space with cargo … [Read more...]