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Trade Update: Consol Energy

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Consol Energy (CEIX) has resumed ship loading at its marine terminal. While not back to full operations yet, this is still positive news and removes the uncertainty weighing down the share price. From today's press release:

"Consol Energy reports that coal shipments to international markets began leaving its Marine Terminal in Baltimore last night. This is after a shutdown of the terminal due to the collapse of the Francis Scott Key bridge on March 26. The first shipment leaving the Marine Terminal was approximately 56,000 net tons, compared to traditional shipments of about 140,000 net tons in larger vessels. The channel is now cleared to about 350 feet wide and needs to be about 400 feet wide to accommodate larger vessels. In related news, the MV Dali, the container ship that collided with the bridge, was refloated and removed Monday".

CEIX is a 7.3% position for me. The stock recently cleared the 100 DMA. I intend to let it ride.

My other coal miner holding, South African miner Thungela Resources (TGA.L), also continues to perform.

Good Trading!


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