Bridge Collapse Snarls Consol Energy Coal Exports From Port Of Baltimore
Portfolio Pulse from Matt Whittaker
A bridge collapse at the Port of Baltimore is delaying Consol Energy Inc.'s coal exports, impacting operations at its terminal. The collapse, caused by a non-Consol coal-carrying ship, has led to a safety zone establishment by the Coast Guard, affecting vessel access. Consol, deriving 60% of its revenue from exports, is working to minimize impacts. The incident also affects CSX Corp. and Norfolk Southern Corp., with both expecting operational delays. Consol's shares fell nearly 7% following the news.
March 26, 2024 | 10:07 pm
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Consol Energy Inc. faces operational delays at its Baltimore terminal due to a bridge collapse, impacting coal exports. The company is working to minimize impacts but shares fell nearly 7%.
The bridge collapse directly impacts Consol Energy's ability to export coal, which constitutes 60% of its revenue. The immediate operational delays and lack of a timeline for resuming normal operations contribute to a negative short-term outlook for CEIX shares.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
CSX Corp. expects delays in port operations at Baltimore, affecting intermodal container, automotive, and coal traffic due to the bridge collapse.
The bridge collapse affects CSX Corp.'s operations at the Port of Baltimore, particularly for intermodal container, automotive, and coal traffic. The expected delays could negatively impact CSX's short-term operational efficiency and possibly its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Norfolk Southern Corp. is assessing the impact of the Baltimore bridge collapse on its operations and has warned of potential delays.
Norfolk Southern Corp. is directly affected by the bridge collapse, leading to potential operational delays. This situation could negatively influence NSC's short-term operational performance and stock price, given the uncertainty and expected disruptions.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80