CSX Sees Robust Export Coal Demand — Commodity Comment
By Mary de Wet
CSX expects export demand for thermal and metallurgical coal to remain strong this year.
On the 2024 coal outlook:
The Jacksonville, Fla.-based railroad said it sees "robust export coal demand across both thermal and metallurgical markets."
CSX said there is an opportunity to temporarily redirect a portion of export coal volumes to other terminal locations after a container ship collided with the Francis Scott Key Bridge in Baltimore, shutting down the port there.
The company estimates the net revenue impact from the Baltimore port closure at $25 million to $30 million per month.
CSX expects a moderation of global coal prices to levels still above pre-pandemic averages.
U.S. coal demand is likely to be affected by ample inventories and low natural gas prices, CSX said.
Write to Mary de Wet at mary.dewet@dowjones.com
(END) Dow Jones Newswires
April 17, 2024 17:12 ET (21:12 GMT)
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