financetom
Business
financetom
/
Business
/
Baltimore port closure could dent US coal export volumes, EIA says
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Baltimore port closure could dent US coal export volumes, EIA says
Mar 28, 2024 8:33 AM

(Reuters) - Halted shipping traffic from the Port of Baltimore, the second-largest U.S. hub for coal exports, will slow the growth in U.S. coal exports and reduce bunker fuel use, the Energy Information Administration (EIA) said on Thursday.

Coal exports from the busy U.S. port have been disrupted following the collapse of Baltimore's Francis Scott Key Bridge which was struck by a massive cargo ship early Tuesday morning.

"Since the port is a major transit point for freight and bulk vessels, we expect bunker fuel consumption to decrease," the EIA added.

Baltimore handled exports of 28 million short tons last year, making up 28% of total U.S. coal exports and second only to the Hampton Roads port in Norfolk, Virginia, according to census data.

"An attractive feature of the Port of Baltimore is its proximity to the northern Appalachia coal fields in western Pennsylvania and northern West Virginia," the EIA said.

"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."

About 19 million short tons of the exports in 2023 were steam coal, used to generate power and heat, and the remaining 9 million short tons were metallurgical coal, an ingredient in steelmaking.

India was the top destination for steam coal over the last five years, where the brick manufacturing industry is a major customer, while metallurgical coal went to various Asian countries including Japan, China, and South Korea, the EIA said.

Baltimore also imported 3,000 barrels per day (bpd) of biodiesel in 2023, mostly from Central America and Western Europe, alongside 4,000 bpd of asphalt from Canada and 2,000 bpd of urea ammonium nitrate largely from Russia.

More widely used refined oil products are less affected, the EIA noted.

(Reporting by Deep Vakil in Bengaluru; Editing by Ros Russell)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US copper imports soar to 500,000 tons amid tariff threats, says Bloomberg
US copper imports soar to 500,000 tons amid tariff threats, says Bloomberg
Mar 24, 2025
(Reuters) - Mercuria estimates that about 500,000 tons of copper are heading to the U.S., against normal monthly imports of around 70,000 tons, triggered by the potential imposition of tariffs, Bloomberg said in a report on Monday. This massive amount of copper being transported to the U.S. could push copper prices to record highs and potentially leave top consumer China...
Riot Platforms Powers Up: Eyes $185 Million Acquisition Deal To Boost Mining Capacity
Riot Platforms Powers Up: Eyes $185 Million Acquisition Deal To Boost Mining Capacity
Mar 24, 2025
Riot Platforms, Inc. ( RIOT ) shares are trading higher premarket on Monday. On Friday, the company inked a non-binding term sheet outlining the potential acquisition of certain assets owned by Rhodium Encore LLC at Riot’s Rockdale Facility. The proposed transaction would be carried out by Whinstone US, Inc., or an affiliate, a wholly-owned Riot subsidiary. As per the deal,...
Ford F-150 Models Under Federal Investigation Over Alleged Downshift Defect
Ford F-150 Models Under Federal Investigation Over Alleged Downshift Defect
Mar 24, 2025
06:24 AM EDT, 03/24/2025 (MT Newswires) -- Ford Motor's ( F ) 2015 to 2017 model F-150 pick-up trucks are under investigation by the US National Highway Safety Administration over an alleged fault that can cause an unexpected, unrequested transmission downshift to a lower gear while traveling at highway speeds without any prior warning or driver input, the regulator said...
Market Chatter: Boeing, Airbus Looking to Ramp, Speed Up Future Jet Production
Market Chatter: Boeing, Airbus Looking to Ramp, Speed Up Future Jet Production
Mar 24, 2025
06:24 AM EDT, 03/24/2025 (MT Newswires) -- Boeing ( BA ) and Airbus are looking to ramp up production of their next-generation jets to about 100 jets per month for each company as they explore potential components of their future models, Reuters reported Monday, citing unnamed sources familiar with the matter. According to the report, the companies are studying the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved