According to Reuters reports, CSX will resume regular coal export operations at the Port of Baltimore this week following the clearing of a section of the deep channel that facilitates access to the port. Yesterday the first large vessel was expected to be received and loaded at CSX’s Curtis Bay coal terminal.
Progress in port of Baltimore
For the past ten days, the railroad has been using smaller port channels to load coal onto smaller vessels, Hinrichs said. Additionally, Baltimore had a significant 28% share of coal exports in 2023, according to data from the U.S. Energy Information Administration. (EIA).
Lastly, the recent refloating and relocation of the container ship Dali, which had collided with the Francis Scott Key Bridge the Francis Scott Key Bridge bridge in March, causing its collapse and affecting trade, has allowed for progress in port operations. Hinrichs noted that CSX had accurately assessed the losses from the accident, anticipating a considerable impact on coal revenues.
Coal exports in 2024
On the other hand, with updated export data and a successful diversion of coal shipments to alternative ports, EIA has adjusted upward its 2024 coal export forecast compared to its initial projection. Despite this revision, the forecast still projects a slight 1.1% decrease in coal exports for 2024 relative to 2023. This revision contrasts with the previous forecast in April, which had anticipated a steeper drop of 5.3%, according to Reuters.
Prior to the bridge collapse incident Prior to the bridge collapse incident, the EIA had forecast modest growth of approximately 1% in coal exports for the year, according to its March projections.
In the long term, CSX’s ability to resume normal operations could positively impact Baltimore’s local economy, generating jobs and improving port infrastructure. In addition, the fast adaptation of CSX to the bridge accident demonstrates the resilience of the supply chain and the strategic importance of rail infrastructure in coal logistics.
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Source: safety4sea
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