American exports of coal will contract sharply following the recent bridge collapse around the Eastern Seaboard city of Baltimore, according to the latest official outlook.
April’s coal exports will be down 33% from the previous forecast in volume terms, the U.S. Energy Information Administration said Tuesday. The EIA downgraded May’s forecast by 20%.
The agency sees U.S. coal exports dropping 6% for the full year, a reversal from the previous forecast of 1% growth.
“We expect U.S. coal exports to recover toward the end of the summer or early fall, but there is significant uncertainty based on the timeline for the port reopening and how quickly exporters can adjust to export through alternative ports,” EIA Administrator Joe DeCarolis said in a news release.
The EIA says that the Port of Baltimore accounted for 28% of U.S. coal exports in 2023, the second-highest share in the nation. The port exported more than 8 million short tons of metallurgical coal, which is used in steelmaking.
Japan was the biggest importer of metallurgical coal from the Port of Baltimore, with a 28% share, followed by China and Brazil.
The port exported about 19 million short tons of steam coal, whose applications include power generation. India was the top recipient.
A Singapore-flagged containership crashed into the Francis Scott Key Bridge in the deadly late-March accident, destroying the bridge and halting vessel traffic at the port.