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The closure of the Port of Baltimore, the second-largest U.S. hub for coal shipments, prompted the Energy Information Administration on Tuesday to cut its forecast for April coal exports by 33% and May by 20%.
The VIA previously forecast coal shipments would rise about 1% this year to 100.8 million tonnes, but exports are now forecast to fall 6% to 94.5 million tonnes following the collapse of the Francis Scott Key Bridge and its consequences. port closure.
“We expect U.S. coal exports to recover in late summer or early fall, but there is significant uncertainty about the timing of port reopening,” the EIA says.
Coal exports have surged in recent years as domestic utilities shift to cleaner fuels, making international markets crucial for U.S. companies; the Port of Baltimore accounted for about 28% of U.S. exports last year.
Potentially relevant stocks include Consol Energy (NYSE:CEIX), Ramaco Resources (METC), Alpha Metallurgical Resources (AMR), Warrior Met Coal (HCC), Arch Coal (ARCH), Peabody Energy (BTU).