Bridge collapse disrupts coal operations
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 27 March 2024
⏱️ 7 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, March 27th. I'm Julie Morgan. The coal industry will see some disruption |
| 0:15.8 | following the bridge collapse in Baltimore. Investors are reacting to GameStop's |
| 0:21.2 | weak sales report and Apple has set the date for its developer conference. |
| 0:27.0 | Consul Energy fell nearly 7% in Tuesday's trading as vessel access in and out of its marine terminal has been delayed |
| 0:35.6 | following the collapse of the Francis Scott Key Bridge near the Port of Baltimore. |
| 0:40.6 | Consul said it does not have a timeline for when vessel access or normal operations |
| 0:46.0 | will resume and is looking at all available options to minimize or address direct and indirect |
| 0:52.2 | impacts to the company and its operations. |
| 0:55.7 | The console terminal has processed more than 10 million tons per year of coal on average since 2010. |
| 1:02.7 | Rail Company, CSX, which owns the Curtis Bay coal pier in Baltimore, |
| 1:07.2 | said its existing coal customers should expect potential shipment delays. |
| 1:12.1 | CSX fell nearly 2% on Tuesday. |
| 1:15.0 | Ramako Resources lost 2.5% even after saying it is unaffected by the collapse. |
| 1:22.0 | AMR, which owns a 65% stake in the Dominion Coal Export Terminal in Virginia, gained 1.5%, |
| 1:30.3 | as company officials said export traffic is being rerouted from Baltimore to Virginia and other ports. |
| 1:37.0 | Archer Resources lost 3% as the accident is expected to restrict shipments of coal and create problems in the supply |
| 1:45.3 | chain for India, according to the S&P Global Platts. And Peabody Energy ticker symbol BTU, which also uses Baltimore's port to export coal |
| 1:55.6 | fell 1.4 percent. Six people are presumed dead following Tuesday morning's |
| 2:01.1 | bridge accident. This is our top story in the Wall Street breakfast |
| 2:04.8 | newsletter, our daily one-page news summary. |
| 2:07.8 | I'll leave a link to the newsletter in show notes. |
... |
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