IYM - Baltimore Port Shutdown Triggers Coal Price Hike: Energy Information Administration Warns Of Export Disruptions | Benzinga
Coal prices have risen in the past couple of days since the Port of Baltimore was closed following the collapse of the Francis Scott Key Bridge, cutting off many of the port’s facilities.
The price of a ton of U.S. coal rose by 0.6% on Thursday to $113.25. Meanwhile, the Range Global Coal ETF (NYSE:COAL), which tracks several different miners of differing grades of coal, rose 0.7% to $22.81, and is up 2.7% over the last two trading sessions.
Consol Energy Inc (NYSE:CEIX) is one of the biggest exporters through the port’s coal terminal. The Pennsylvania-based company said following the incident that it was working with port authorities to restore access to the terminal.
It added, however: “At this moment, we do not have a definitive timeline of when vessel access or normal operations will resume. We are looking at all available options to us to minimize or address ...