EIA slashes US coal export forecast
On Tuesday (April 9) local time, the US Energy Information Administration (EIA) lowered the US coal export forecast for April and May by 33% and 20%, respectively, due to the port closure due to the collapse of the Baltimore Bridge.
Baltimore is America's second-largest coal export channel, and the closure of the port has led to a marked decrease in the efficiency of US coal transportation.
EIA Director Joe DeCarolis said: “There is great uncertainty about the schedule for port reopening and how quickly exporters can adjust to exporting through other ports.”
Coal exports have been rising in recent years as US domestic utilities have switched to clean fuels, making the international market critical to US companies, and the Port of Baltimore accounted for 28% of US exports last year.
According to a recent research report by Fangzheng Securities, the “origin” of the beta market for coal was the strong global stimulation+ domestic environmental protection production limit+ “energy transition” after 20 years of the epidemic, and coal prices skyrocketed; “Confusion” began to decline in domestic and external demand in 22Q3, coal imports increased, Europe withdrew from “double carbon”, domestic questions about “energy transformation”, coal prices fell sharply, and market adjustments; coal prices have declined since 23Q3, but the scale of coal and electricity has increased, and the “energy transformation” belief is about to begin to bubble for a long time!
Coal-related companies include:
Yankuang Energy (01171), Yancoal Australia (03668), China Shenhua (01088), China Coal Energy (01898)