Baltimore bridge collapse halts coal shipments
Reuters
Published Mar 26, 2024 04:02PM ET
By Valerie Volcovici
(Reuters) - Coal exports from the busy U.S. port of Baltimore have been disrupted following the collapse of a bridge that was struck by a massive cargo ship early Tuesday morning, rail and coal companies said.
Rail company CSX (NASDAQ:CSX) on Tuesday said its existing coal customers should expect "potential shipment delays" after the accident, for which the U.S. Coast Guard is still conducting search and rescue operations.
CSX owns the Curtis Bay coal pier in Baltimore, located near the site of the collapse of the Francis Scott Key Bridge, which CSX plans to keep operational for now as it continues to "assess the circumstances," the company told Reuters in a statement.
CSX said it currently has capacity to dispatch additional trains to CSX-served coal terminals in Baltimore before it reaches pile space limits.
Coal producer CONSOL Energy (NYSE:CEIX), which has a marine export terminal in the Port of Baltimore, also said that vessel access in and out of its terminal was also delayed.
During the first nine months of 2023, Baltimore was the second biggest port for U.S. coal exports, behind Norfolk, Virginia, according to the latest data from the U.S. Energy Information Administration (EIA).
During the first nine months of 2023, Baltimore exported about 20.3 million short tons of coal, up from 14.3 million short tons during the same period in 2022.
About 13.3 million short tons of exports from Baltimore during the first nine months of 2023 were steam coal and 7.0 million short tons were metallurgical coal.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.