A recent accident on the Moselle River has caused significant disruptions for European steel companies. A cargo ship carrying scrap metal crashed into a lock near Müden, Germany, severely damaging it and blocking the passage of around 70 ships. This incident has halted the transport of approximately 8.1 million tonnes of goods, including steel raw materials.
The blockage is expected to last until at least March 2025, forcing companies to seek alternative transport methods such as trucks and rail. This shift is anticipated to increase freight costs and, consequently, the prices of raw materials like ferrous scrap. The German Waterways and Shipping Authority is urgently working on solutions to alleviate the economic impact of the disruption.