Can only be a good thing going forward from here. Would be nice if an activist investor gets involved, there's a lot of optionality here, and it's very cheap.
CT, Any adjustment insight on the Baltimore port closure since it is the 2nd largest coal export hub .
Today’s fluctuations did not made sense except for Consol who uses that port and was down a lot
IMHO, temporarily a little dent in coal deliveries but with everybody having a beautiful pile of coal already in their backyard, this will only temporarily affect the size —assuming a few weeks disruption until the shipping lane has been cleared (duration of rebuilding that bridge is irrelevant)
And Consol dumping their coal domestically, how can they do that if they still have their overseas delivery contracts to fulfill once the shipping lane has been cleared?
I'm thinking a least 6 weeks of disruption for Consol. This is very bad for Consol if we're being honest. They can try to sent some extra tons to domestic customers or other ports with spare capacity, but I think they're sort of screwed. They will probably shut down their 5th longwall, not sure if its needed now anyway given seaborne thermal demand. On the other hand, maybe they'll get some insurance money from this situation to offset losses.
https://www.reuters.com/markets/commodities/india-get-coking-coal-mongolia-trial-basis-july-sources-say-2024-07-08/
Coal Trader, any thoughts on Elliott leaving the BTU board and if that implies re their overhang / might be a catalyst?
Can only be a good thing going forward from here. Would be nice if an activist investor gets involved, there's a lot of optionality here, and it's very cheap.
CT, Any adjustment insight on the Baltimore port closure since it is the 2nd largest coal export hub .
Today’s fluctuations did not made sense except for Consol who uses that port and was down a lot
IMHO, temporarily a little dent in coal deliveries but with everybody having a beautiful pile of coal already in their backyard, this will only temporarily affect the size —assuming a few weeks disruption until the shipping lane has been cleared (duration of rebuilding that bridge is irrelevant)
And Consol dumping their coal domestically, how can they do that if they still have their overseas delivery contracts to fulfill once the shipping lane has been cleared?
I'm thinking a least 6 weeks of disruption for Consol. This is very bad for Consol if we're being honest. They can try to sent some extra tons to domestic customers or other ports with spare capacity, but I think they're sort of screwed. They will probably shut down their 5th longwall, not sure if its needed now anyway given seaborne thermal demand. On the other hand, maybe they'll get some insurance money from this situation to offset losses.
Happy vacation bud, have some rest.