According to Reuters, CSX is set to resume normal coal export operations at the Port of Baltimore this week, as confirmed by the railroad’s CEO.
Following the clearance of a portion of the deep channel serving the port, the first large ship is scheduled to be received and loaded at CSX’s Curtis Bay coal terminal on 25th May.
During the past ten days, the railroad resorted to loading coal on small ships utilizing smaller channels at the port, Hinrichs added.
Baltimore accounted for a significant 28% of coal exports in 2023, according to data from the U.S. Energy Information Administration (EIA).
The recent refloating and relocation of the Dali container ship, which had crashed into the Francis Scott Key Bridge in March, causing its collapse and disrupting trade, has enabled progress in port operations. Hinrichs noted that CSX had accurately estimated losses resulting from the accident, foreseeing a significant impact on coal revenue.
With updated export data and successful rerouting of coal shipments to alternative ports, the EIA revised its 2024 coal export forecast upwards from its initial projection. Despite this, the forecast still indicates a slight decline of 1.1% in coal exports for 2024 compared to 2023. This adjustment contrasts with the earlier forecast in April, which had anticipated a larger decline of 5.3%, Reuters stated.
Before the bridge collapse incident, the EIA had projected a modest growth of approximately 1% in coal exports for the year, as per its March outlook.
