$兖煤澳大利亚(03668)$ $兖矿能源(SH600188)$ $兖矿能源(01171)$
The Gap in Coal Supply After the Baltimore Bridge Collapse
巴尔的摩大桥倒塌后的煤炭供应缺口
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The Baltimore bridge disaster has opened a brief opportunity for Australian coal exporters to fill a big gap in Indian coal imports -- especially coal needed by brick makers in the world's most populous nation.
巴尔的摩桥梁灾难为澳大利亚煤炭出口商提供了短暂的机会，可以填补印度煤炭进口的巨大缺口，尤其是这个世界上人口最多的国家制砖商所需的煤炭。
The US Energy Information Administration (EIA) says around 14 million tonnes of thermal coal was sent to Indian buyers in 2023 from Baltimore and the disappearance of that tonnage will have an impact on the supply-demand balance in Asia and the Indian Ocean markets, and on prices if it persists.
美国能源信息管理局（EIA）表示，2023年从巴尔的摩向印度买家运送了约1400万吨动力煤，该吨位的消失将影响亚洲和印度洋市场的供需平衡，如果这种情况持续下去，将影响价格。
Seven million tonnes of steelmaking met coal was sold into the Japanese and other Asian markets, such as South Korea, and Australian exporters should be able to pick up those shortfalls very easily, if only for a month or three.
700万吨炼钢铁煤炭销往日本和其他亚洲市场，例如韩国，澳大利亚的出口商应该能够很容易地弥补这些短缺，即使只持续一三个月。
Companies like Glencore, BHP, Stanmore, Whitehaven and Yancoal could be possible suppliers.
嘉能可、必和必拓、Stanmore、Whitehaven和兖煤澳洲等公司可能成为供应商。
Thermal coal futures prices in Newcastle (the major pricing point for high-quality steaming coal) saw prices rise a solid $US6 a tonne last week to around $US132 to $US134 a tonne with the 5% plus gain -- all coming after the container ship ran down the bridge in Baltimore Harbour.
上周，纽卡斯尔（高质量蒸汽煤的主要定价点）的动力煤期货价格稳步上涨每吨6美元，至每吨132美元至134美元左右，涨幅超过5％，所有这些都是在集装箱船在巴尔的摩港撞下桥之后发生的。
The EIA said in a note on Thursday that "Baltimore is responsible for an outsize share of coal shipments to the rest of the world, with India an especially large destination. An extended disruption to the port could mean a supply shock that extends to Asia and potentially reverberates back into global supply chains."
环境影响评估在周四的一份报告中表示：“巴尔的摩在向世界其他地区的煤炭运输中占有很大份额，印度是一个特别大的目的地。港口的长期中断可能意味着供应冲击延伸到亚洲，并有可能回荡到全球供应链。”
There was talk over the Easter break of Indian traders looking for emergency tonnes from Indonesia and Australia.
关于复活节假期，有传言称印度贸易商正在从印度尼西亚和澳大利亚寻找应急物资。
A handful of Australian companies produce the high-grade thermal coal Indian brick-makers and some other consumers buy from the US. Indonesia could supply, but its coal is heavily sold to China and mostly of poorer quality (and lower price) than the US coal.
少数澳大利亚公司生产印度制砖商和其他一些消费者从美国购买的高品位动力煤。印度尼西亚可以供应，但其煤炭大量销往中国，而且大多数煤炭质量差（价格也低于美国的煤炭）。
The Indian buyers would be buying from nearby Indonesia if it were a question of price, but the more expensive US (and Australian) thermal coals are higher quality and less polluting.
如果是价格问题，印度买家会从附近的印度尼西亚购买，但是更昂贵的美国（和澳大利亚）热能煤质量更高，污染更少。
Baltimore is home to two coal export terminals, one owned by railroad giant CSX and the other by miner Consol Energy subsidiary Consolidated Coal.
巴尔的摩有两个煤炭出口码头，一个归铁路巨头CSX所有，另一个归矿业公司康索尔能源子公司联合煤炭所有。
The two terminals are on the inside of the port and the collapsed bridge -- thanks to the 90,000-plus tonne container ship, Dali, ramming a support pier -- are unable to service markets.
这两个码头位于港口内部，由于9万多吨的集装箱船达利撞上支撑码头，这座倒塌的桥无法为市场提供服务。
That will remain the case until the port re-opens. In the meantime, coal can be diverted to nearby Hampton Roads/Norfolk, but that will take time and add costs and will depend on port capacity.
在港口重新开放之前，情况将保持不变。同时，煤炭可以转移到附近的汉普顿路/诺福克，但这将花费时间并增加成本，并且将取决于港口的容量。
Baltimore is the second-largest exporting hub for coal in the United States, accounting for 28% of total coal exports in 2023 and second only to Norfolk, Virginia, also known as Hampton Roads.
巴尔的摩是美国第二大煤炭出口中心，占2023年煤炭出口总额的28％，仅次于弗吉尼亚州的诺福克，也称为汉普顿路。
After shipping around 20 million tonnes a year up to 2022, exports from Baltimore surged to 28 million tonnes last year, "mainly because of growing demand for US coal in Asia," according to the EIA.
环境影响评估称，截至2022年，巴尔的摩每年出货约2000万吨，去年巴尔的摩的出口激增至2,800万吨，“这主要是由于亚洲对美国煤炭的需求不断增长”。
A total of 19 million tonnes of thermal coal was exports through Baltimore, with 14 million tonnes of that heading to India and the remainder to Europe and smaller markets. The remainder is coking coal for the steel industry -- mostly in Asia, led by Japan, and then Europe.
通过巴尔的摩共出口了1900万吨动力煤，其中1400万吨销往印度，其余销往欧洲和较小的市场。其余的是为钢铁行业炼焦煤——主要在亚洲，以日本为首，然后是欧洲
