Disclaimer

The articles excerpted on this site report on the state of the industry as seen by mainstream media, and do not necessarily reflect the opinion of the officers of the ILWU Coast Longshore Division.

SEC alleges insider trading in coal acquisition

Federal regulators claim that three men used insider information to profit illegally from Arch Coal’s acquisition of International Coal Group.

Frank Tamayo schemed with two other men to generate more than $5.6 million in profits from 13 mergers and acquisitions, the U.S. Securities and Exchange Commission says in a lawsuit.

One of the transactions [...]

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Court deals Port of St. Helens its second blow in a week

The Port of St. Helens has suffered a second blow in its efforts to expand a marine facility to accommodate oil and coal exports.

The Oregon Land Use Board of Appeals upheld an environmental challenge to its plans to add more than 800 acres to its Port Westward property in Clatskanie on the lower Columbia [...]

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Oregon Department of State Lands denies Ambre Energy coal terminal permit

Oregon’s Department of State Lands on Monday dealt a serious blow to Ambre Energy’s proposed coal export project, denying a key permit needed for construction in the Columbia River.

The permit would’ve allowed Australia-based Ambre Energy to construct a dock in the Columbia River.

More at the Oregonian

Federal judge orders Army Corps to release [...]

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Coal exports from Bellingham could ramp up rapidly

Developers of the largest of the region’s proposed coal-export terminals have shifted their site plan to claim a dramatic reduction in impacts on wetlands.

Simultaneously, SSA Marine, the Seattle international terminal operator, said it will speed up plans to operate Gateway Pacific Terminal (GPT) north of Bellingham at full capacity. The capacity planning, along with [...]

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Environmental groups file appeal against Port of Long Beach’s decision to extend coal exporting agreements

Four environmental groups have filed an appeal against the Port of Long Beach’s recent decision to extend two export agreements involving coal and petroleum coke (petcoke).

One agreement, between POLB and the Metropolitan Stevedore Company (MSC), is a 20-year extension agreement that will permit MSC to continue exporting coal out of POLB. The second agreement, [...]

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Activists protest at coal exporter offices

Environmental activists from Greenpeace, Tax Fairness Oregon and other groups took their protest against Northwest coal exports to the Portland offices of Ambre Energy this week.

Activists are opposing a proposal to use $2 million from the state’s ConnectOregon grant program to support Ambre’s proposed coal export terminal at Port Westward on the Columbia River.

[...]

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Push to ban fossil fuels at S.F. Port clears hurdle

San Francisco’s once-busy Port hasn’t handled fossil fuels — like coal and crude oil — since the 1960s. And if environmentalists have their way, the Port of San Francisco will never see a fossil fuel again.

The City’s Environment Commission passed a resolution Thursday urging the Port to close its docks to the future possibility [...]

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Cargill earnings hit by commodity market disruptions; others to report soon

Cargill Inc said that its quarterly earnings fell 28 percent, making it one of the largest companies yet to demonstrate how big commodity market disruptions this year have hurt its bottom line.

Minneapolis-based Cargill, a top global commodities trader, was hit by a triple-whammy of unexpected events, including a surge in energy prices in January, [...]

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Oregon says coal export project will need to lease more land

Developers of the Morrow Pacific coal export project on the Columbia River already have land leases with the Port of St. Helens and the Port of Morrow.

But according to the Oregon Department of State Lands, they’re going to need a couple more.

In a recent letter, DSL operations manager Lori Warner-Dickason told project developers [...]

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Impact of Panama Canal delays on LNG and coal

From Energy Global:

Research firm Wood Mackenzie expects lengthy delays to the anticipated Panama Canal expansion to impact the coal, liquefied natural gas and petrochemical industries.

Significant disruptions will limit profitability for US LNG producers, create a tighter shipping market and affect the US Gulf Coast petrochemical industry. On the other hand, US coal producers [...]

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Washington state, county order wide environmental review of Millennium coal project

State and county regulators announced Wednesday they will conduct a sweeping environmental study of the proposed Millennium Bulk Terminals coal dock west of Longview. It will include the effects of train traffic from inland mines and greenhouse gas emissions from coal-burning power plants in Asia.

The decision is a victory for opponents of the $643 [...]

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SSA Marine: Change in part-ownership won’t affect coal port plan

Bob Watters, SSA Marine senior vice president, says the recent change in the company’s ownership structure won’t affect SSA’s plan to push ahead with the Gateway Pacific Terminal coal export project at Whatcom County’s Cherry Point.

Watters was elaborating on this Jan. 7 press release, which announces that a subsidiary of Goldman Sachs has sold [...]

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Port of Vancouver oil terminal plan gets 31,000 comments

The state agency reviewing a proposed oil terminal at the Port of Vancouver piled up more than 31,000 comments before Wednesday’s deadline passed.

The controversial oil-by-rail facility, proposed by Tesoro Corp. and Savage Companies, has taken on a higher profile than any project recently reviewed by the Energy Facility Site Evaluation Council. … The plan [...]

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5 key takeaways about financial struggles at Ambre Energy, company proposing Boardman, Longview coal terminals

From the Oregonian:

Here are five key takeaways from the report, which was filed with the Australian Securities and Investments Commission (akin to the U.S. Securities and Exchange Commission).

1. Ambre Energy has had trouble raising money. The report says the deal giving Resource Capital more control is the only way for Ambre to keep [...]

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Coal export investor pushes for control of Ambre Energy, its Boardman and Longview proposals

A major investor is positioning itself to take control of the Australian company trying to build coal export terminals in Oregon and Washington.

A Denver-based private equity firm, Resource Capital Funds, could eventually own as much as 55 percent of Ambre Energy, according to the terms of a deal Ambre shareholders will be asked to [...]

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