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U.S. Coal Exports Witness Sharp Drop After Francis Scott Key Bridge Collapse In Baltimore
U.S. Coal Exports Witness Sharp Drop After Francis Scott Key Bridge Collapse In Baltimore
By MI News Network | April 10, 2024 | Shipping News
On Tuesday, the U.S. Energy Information Administration (abbreviated as EIA) revised its coal exports forecast for April downward by 33% and decreased its view for May by 20% owing to the unexpected collapse of the Francis Scott Key Bridge in Baltimore, followed by the port closure.
The EIA expected U.S. coal exports to increase by approximately 1% in 2024 but now anticipates a 6% decline from the levels observed last year after the bridge collapse.
The U.S. coal shipments declined following the sudden closure of the Port of Baltimore, the nation’s second-largest coal export channel, following a considerable cargo vessel slamming into the bridge on 26 March.
Joe DeCEIA’ss, EIA’s administrator, said there is significant apprehension based on the timeline of the port reopening and how fast the exporters may adjust to exporting through the alternative ports.
{snip}
By MI News Network | April 10, 2024 | Shipping News
On Tuesday, the U.S. Energy Information Administration (abbreviated as EIA) revised its coal exports forecast for April downward by 33% and decreased its view for May by 20% owing to the unexpected collapse of the Francis Scott Key Bridge in Baltimore, followed by the port closure.
The EIA expected U.S. coal exports to increase by approximately 1% in 2024 but now anticipates a 6% decline from the levels observed last year after the bridge collapse.
The U.S. coal shipments declined following the sudden closure of the Port of Baltimore, the nation’s second-largest coal export channel, following a considerable cargo vessel slamming into the bridge on 26 March.
Joe DeCEIA’ss, EIA’s administrator, said there is significant apprehension based on the timeline of the port reopening and how fast the exporters may adjust to exporting through the alternative ports.
{snip}
I had not known how important Baltimore was for coal exports.
MARCH 28, 2024
What are the energy impacts from the Port of Baltimore closure?
https://www.eia.gov/todayinenergy/images/2024.03.28/main.svg
The collapse of the Francis Scott Key Bridge into the Patapsco River on March 26 has temporarily halted all shipping traffic from the Port of Baltimore. In this article, we examine implications for energy-related trade.
The port is the second-largest exporting hub for coal in the United States, accounting for 28% of total coal exports in 2023, according to Census Bureau data. It is second only to Norfolk, Virgina, also known as Hampton Roads.
How much coal moves through the Port of Baltimore?
In three of the past five years, annual coal exports from the Port of Baltimore totaled around 20 million short tons, with the only exception occurring in 2020 when the reaction to the COVID-19 pandemic dampened coal demand worldwide.
Exports from Baltimore surged to 28 million short tons in 2023, mainly because of growing demand for U.S. coal in Asia. Even before the port’s closure, we were expecting much slower growth in total U.S. coal exports in 2024, of just 1%. The interruption in operations in Baltimore may affect the volume of exports this year.
https://www.eia.gov/todayinenergy/images/2024.03.28/chart2.svg
There are two full-service terminals that receive, store, and load coal onto ocean-going vessels at the Port of Baltimore: the Curtis Bay Coal Piers served by the CSX Railroad and the CONSOL Energy Baltimore Marine terminal served by both the CSX and Norfolk Southern Railroads. An attractive feature of the Port of Baltimore is its proximity to the northern Appalachia coal fields in western Pennsylvania and northern West Virginia. Mines in this region produce both premium quality metallurgical coal and steam coal with a high heat content.
Steam coal, coal that is used mostly for electric power generation and industrial heating, is the dominant type of coal exported from the Port of Baltimore. Those shipments averaged around 12 million short tons from 2019 to 2022 before surging to 19 million short tons in 2023. Exports of metallurgical coal from Baltimore, or that used as a raw material in steel production, also are important, ranging from 6 million short tons to 10 million short tons from 2019 to 2023.
Other nearby ports, most notably Hampton Roads, have additional capacity to export coal, although factors including coal quality, pricing, and scheduling will affect how easily companies can switch to exporting from another port.
https://www.eia.gov/todayinenergy/images/2024.03.28/chart3.svg
The top recipient of U.S. steam coal shipped from Baltimore by far over the past five years has been India, where the brick manufacturing industry has been a major customer. Other major recipients for steam coal from Baltimore include several European countries that are reached by ports in the Netherlands. Smaller markets include customers in the Dominican Republic, Canada, and Egypt.
Exports of metallurgical coal from the Port of Baltimore within the last five years went to several Asian countries. The top recipient in 2023 was Japan, which received 28% of the metallurgical coal shipped through the port of Baltimore. The next two major recipients of this coal over the last five years were China and South Korea. Multiple countries in Europe also receive metallurgical coal exported from the Port of Baltimore to the Netherlands, as do Brazil and Argentina.
{snip}
What are the energy impacts from the Port of Baltimore closure?
https://www.eia.gov/todayinenergy/images/2024.03.28/main.svg
The collapse of the Francis Scott Key Bridge into the Patapsco River on March 26 has temporarily halted all shipping traffic from the Port of Baltimore. In this article, we examine implications for energy-related trade.
The port is the second-largest exporting hub for coal in the United States, accounting for 28% of total coal exports in 2023, according to Census Bureau data. It is second only to Norfolk, Virgina, also known as Hampton Roads.
How much coal moves through the Port of Baltimore?
In three of the past five years, annual coal exports from the Port of Baltimore totaled around 20 million short tons, with the only exception occurring in 2020 when the reaction to the COVID-19 pandemic dampened coal demand worldwide.
Exports from Baltimore surged to 28 million short tons in 2023, mainly because of growing demand for U.S. coal in Asia. Even before the port’s closure, we were expecting much slower growth in total U.S. coal exports in 2024, of just 1%. The interruption in operations in Baltimore may affect the volume of exports this year.
https://www.eia.gov/todayinenergy/images/2024.03.28/chart2.svg
There are two full-service terminals that receive, store, and load coal onto ocean-going vessels at the Port of Baltimore: the Curtis Bay Coal Piers served by the CSX Railroad and the CONSOL Energy Baltimore Marine terminal served by both the CSX and Norfolk Southern Railroads. An attractive feature of the Port of Baltimore is its proximity to the northern Appalachia coal fields in western Pennsylvania and northern West Virginia. Mines in this region produce both premium quality metallurgical coal and steam coal with a high heat content.
Steam coal, coal that is used mostly for electric power generation and industrial heating, is the dominant type of coal exported from the Port of Baltimore. Those shipments averaged around 12 million short tons from 2019 to 2022 before surging to 19 million short tons in 2023. Exports of metallurgical coal from Baltimore, or that used as a raw material in steel production, also are important, ranging from 6 million short tons to 10 million short tons from 2019 to 2023.
Other nearby ports, most notably Hampton Roads, have additional capacity to export coal, although factors including coal quality, pricing, and scheduling will affect how easily companies can switch to exporting from another port.
https://www.eia.gov/todayinenergy/images/2024.03.28/chart3.svg
The top recipient of U.S. steam coal shipped from Baltimore by far over the past five years has been India, where the brick manufacturing industry has been a major customer. Other major recipients for steam coal from Baltimore include several European countries that are reached by ports in the Netherlands. Smaller markets include customers in the Dominican Republic, Canada, and Egypt.
Exports of metallurgical coal from the Port of Baltimore within the last five years went to several Asian countries. The top recipient in 2023 was Japan, which received 28% of the metallurgical coal shipped through the port of Baltimore. The next two major recipients of this coal over the last five years were China and South Korea. Multiple countries in Europe also receive metallurgical coal exported from the Port of Baltimore to the Netherlands, as do Brazil and Argentina.
{snip}
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