US coal sector’s credit health stabilizing on export opportunities

US coal sector’s credit health stabilizing on export opportunities

U.S. coal producers’ credit quality has generally stabilized over the past two years as companies focus on shareholder returns and increased capital spending after many producers cleansed the debt from their balance sheets through bankruptcy restructurings. Improved pricing, particularly for coal destined for export markets, has added to the sector’s improved financial condition despite expectations […]

Hampton Roads coal exports slipped in November

Coal exports out of Hampton Roads, Virginia, fell for the second time in three months in November, data from the Virginia Maritime Association show. Terminals at the port handled a little under 3.11mn short tons (2.82mn metric tonnes) last month, compared with 3.37mn st a year earlier. The association did not explain why shipments had […]

Asia, Europe push US exports higher

US coal exports reached their highest level in six months in October, propelled by steady trading with Asia and Europe. International shipments climbed to 10.7mn short tons (9.69mn metric tonnes) from 9.13mn st a year earlier, data released today from the US Census Bureau show. That was the highest level of exports since April, when […]

US met coal exports total 5.29 million mt in October: US Census

US metallurgical coal exports in October totaled 5.29 million mt, up 42.8% from the prior month and up 25.2% from the year-ago month, according to data released Thursday by the US Census. It was also the second-highest total this year, behind 5.34 million mt in April. Top met coal export destinations in October were Japan, […]

Oakland Faces Lawsuit Over Obstruction of Coal Shipping

A developer fighting to export coal from a planned marine shipping terminal in Oakland sued the city in state court Tuesday, accusing local officials of obstructing the project. It’s the second lawsuit against the city over the Oakland Bulk & Oversized Terminal (OBOT). In May, a federal judge overturned a ban prohibiting the storage and […]