Record Volume for Westshore Coal Export Terminal (Platts)
Westshore Terminals ships record 8.6 million mt of coal in Q3
Westshore Terminals, in Vancouver, British Columbia, shipped 8.6 million mt of coal during the third quarter, its best quarter ever in terms of volume, the company said Friday.
The quarterly total was up 3.6% from the prior quarter and up 4.9% from the year-ago quarter, the company said.
The terminal — the largest coal export facility on the western coast of North America — said 61%, or roughly 5.2 million mt, of its quarterly coal exports were metallurgical coal, while the remainder, roughly 3.3 million mt, was thermal coal.
The terminal’s Q3 coal loading revenues totaled C$86.7 million ($77.17 million), up 4.9% from the prior quarter and up 10.6% from the year-ago quarter. The terminal said the average loading rate in the quarter rose 5.4% on an annualized basis to C$10.03/mt, compared with C$9.52/mt in the year-ago quarter.
The terminal said Friday it expects 2014 coal volumes to be roughly 31 million-32 million mt, compared with 30.1 million mt in 2013. It added that it has contract commitments for more than 90% of its annual capacity through 2021.
Powder River Basin producer Cloud Peak Energy is among the thermal producers that export through the terminal. It recently concluded a deal to acquire the contracted capacity of Westmoreland Coal, allowing Cloud Peak to increase its annual exports through the terminal to 6 million-6.5 million st starting in 2015.
See article here.