The Rhine, one of Europe's most vital arteries for transporting industrial goods, has fallen to one of its owest level since the drought-stricken summer of 2018. The Rhine water level gauge at Kaub, a key chokepoint on the Rhine for shipments heading to southern Germany and Switzerland, has fallen to just 25 centimeters, the lowest reading since the drought-stricken summer of 2018. JPMorgan analyst Chetan Udeshi told clients that with Rhine water levels dropping to 2018 levels, this may spark a drag across Germany's chemicals industry:BASF/K+S/Sector read: Rhine water levels dropped to multi-year lows in August and are now comparable to 2H18 levels, when Germany-exposed chemicals saw material operational/logistics headwinds (see our previous report here). rail), if needed, as well as expanding its fleet to include vessels that can still operate in the Rhine at low water levels. Rhine Level At KaubKaub Level ForecastBarclays analyst Katie Richards recently told clients to have Rhine water levels "on their radars."