Baltimore Bridge Collapse: 'Baltimore Bridge accident may deepen coal crisis in India', experts expressed apprehension

Posted on 27th Mar 2024 12:51 pm by rohit kumar

The collapse of the Francis Scott Bridge in Baltimore, USA is echoing across the Indian coal and pet coke markets. This has raised concerns about disruption in supply chains and impact on prices. A ship collision has suspended operations through Baltimore Harbor, an important hub for coal exports, according to S&P Global Commodity Insights.

 

India, a major importer of US thermal coal, is facing challenges in its supply chain after the bridge collapse. According to a US-based trader, the incident is expected to restrict shipments of Arc Coal and create logistics bottlenecks for Indian importers.

 

 

"This incident will restrict NAPP shipments from Arc Coal and create many supply chain problems for India. This will have an impact on thermal coal in Europe. It will have a big impact on India. Petcoke prices," a broker told S&P. It looks like a bounce!”

 

However, Indian market traders have mixed views about the impact on pricing. An Indian businessman said, "It will take 6-7 days for the authorities to assess how much debris is there from the incident and how much draft is accumulated. Because if the draft is less then it can be a problem. It will take 10-15 days for the authorities to clear the debris. "It may take days, so this means there will be no movement of ships during this period." The Port of Baltimore is a major loading location for US thermal coal exports. It plays an important role in meeting the energy demands of India.

 

Also Read: Arvind Kejriwal Arrest: Will Kejriwal leave the post of CM or run the government from jail? These Chief Ministers left the chair before their arrest

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