A recovery in Rhine water levels has offered a respite for propane distributors in the German market, according to market sources, even as seasonal demand has remained relatively weak. On Tuesday, water levels at the key choke point of Kaub were about 152 cm, with levels expected to hit at least 200 cm by Thursday, according to the German waterways authority WSV. This compares with around 50 cm Monday and only 30 cm measured in the week ending Sunday.Anything below 80 cm at Kaub is considered critical, and anything below 140 cm requires premium payments. That has resulted in a rapid drop in barge freight rates across several products.
