CANONSBURG, March 26, 2024 - Early this morning, a tragedy occurred after a container ship struck a support column of the Francis Scott Key Bridge in Baltimore causing it to collapse. The ship was not owned or operated by, or carrying materials bound to or from the CONSOL Marine Terminal. Our primary concern is for the safety of everyone affected.
The Coast Guard has established a safety zone for all navigable waters of the Chesapeake Bay within a 2,000 yard radius around the Francis Scott Key Bridge. As a result, vessel access in and out of the CONSOL Marine Terminal, which is located in the Port of Baltimore, has been delayed.
We are working closely with the Coast Guard, transportation authorities and city officials to safely restore vessel access to and resume normal operations at our CONSOL Marine Terminal. However, at this moment, we do not have a definitive timeline of when vessel access or normal operations will resume. We are looking at all available options to us to minimize or address direct and indirect impacts to the Company and its operations.
Our thoughts and prayers go out to the Baltimore community, the emergency response teams and all of those impacted by this heartbreaking incident.
Contacts:
Investor:
Nathan Tucker, (724) 416-8336
nathantucker@consolenergy.com
Media:
Erica Fisher, (724) 416-8292
ericafisher@consolenergy.com
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release are "forward-looking statements" within the meaning of the federal securities laws. With the exception of historical matters, the matters discussed in this press release are forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) that involve risks and uncertainties that could cause actual results to differ materially from results projected in or implied by such forward-looking statements. These forward looking statements include statements about CEIX's options and ability to minimize or address direct and indirect impacts to the company, its business, operations, financial conditions or otherwise relating to the collapse of the Francis Scott Key Bridge near the Baltimore Port including, but not limited to, the ability to move coal tons through open terminals, increasing domestic shipments, asserting force majeure under applicable contracts and successfully recovering insurance with respect to any losses or other damages as a result of the impact of the collapse of the bridge on our business, operations and financial conditions. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "plan," "predict," "project," "should," "will," "would," "target," or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe our expectations with respect to the direct or indirect impact from the collapse of the bridge that involves risks or uncertainties, we are making forward-looking statements. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. Specific risks, contingencies and uncertainties are or may be discussed in the future in more detail in our filings with the Securities and Exchange Commission. The forward-looking statements in this press release speak only as of the date of this press release and CEIX disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.
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SOURCE CONSOL Energy Inc.
