Volume 77, No. 10 October 2013 Published by the Virginia Maritime Association, Norfolk, Virginia email:
[email protected] • web site: www.VAMaritime.com Economic Impact of Coal Exports Approaches $1 Billion ld Dominion University released its 14th Annual State of the Region report. The eight-part report dedicated an Oentire segment to “Coal: A Very Important Economic Engine in Hampton Roads.” Hampton Roads is the largest coal port in the United States as well as one of the largest coal ports in the world. The area is home to three coal terminals: Lambert’s Point Dock, owned and operated by Norfolk Southern; Pier IX, owned and operated by Kinder Morgan; and Dominion Terminal Association, owned by subsidiaries of Alpha Natural Resources, LLC, Arch Coal, Inc. and Peabody Energy. In 2011, the three terminals transported a combined 47 million metric tons of coal through the port. Photo courtesy of Dominion Terminal Associates Many services are linked directly or indirectly to the transportation Despite growth in other energy sources over the past decade, the of coal, creating an economic ripple effect for freight forwarders, report shows coal remained the primary energy source in the U.S. ship agents, testing labs, samplers, surveyors, tugs and harbor and worldwide. Although in 2011, coal was used more often to pilots, plus an extensive range of auxiliary services. generate electricity than natural gas, the trend shows a decline in the use of coal for domestic electricity. However, it should not Hampton Roads handled roughly 40% of the U.S. coal export negatively impact the prosperity of the Port.