A major bridge collapse at the Port of Baltimore has disrupted vessel access to Consol Energy's terminal. The incident occurred early Tuesday when a container ship struck a support column of the Francis Scott Key Bridge, causing its collapse.
The Coast Guard has established a safety zone around the wreckage, delaying vessel access to and from the CONSOL Marine Terminal. Consol is collaborating with authorities to restore access and resume normal operations, but a timeline for resumption is currently unknown.
The Port of Baltimore is a significant coal exporting hub, handling approximately 20% of U.S. coal exports in 2022. Consol's Baltimore terminal generated nearly $70 million in net income last year, contributing significantly to the company's revenue.
The bridge collapse has also impacted the operations of CSX Corp. and Norfolk Southern Corp., which serve the terminal with rail lines. Both companies have reported delays and are assessing the impact on their operations.
Consol shares experienced a decline of nearly 7% on Tuesday, reflecting the market's concern over the disruption to its operations.