On Tuesday, the U.S. Energy Information Administration (EIA) lowered its predictions for coal exports in April and May. This adjustment came after the collapse of the Francis Scott Key Bridge in Baltimore and the subsequent closure of the port.
Originally, the EIA expected a slight increase of about 1% in coal exports for 2024. However, due to the bridge collapse, they now anticipate a 6% decrease compared to last year.
The Port of Baltimore, which is the second-largest coal export route in the U.S., shut down after a large cargo vessel collided with the bridge on March 26. This event caused a drop in coal shipments.
Joe DeCEIA, the head of EIA, expressed concern about when the port will reopen and how quickly exporters can adjust to using alternative ports.
Although coal's role in U.S. power generation has decreased to around 15% due to cleaner energy sources like renewables and natural gas, it still accounts for about one-third of global electricity production.
