For the second year in a row, the Port of Stockton set a record for ship arrivals in 2015. Overall, [...]
With the U.S. coal sector showing signs of weakness, the Interior Department is pausing new coal leases and launching a review of the federal coal program.
In his final State of the Union address earlier this week, President Barack Obamasaid the nation’s energy policy priorities should focus on a transition away from “old, dirtier energy [...]
Arch Coal, the nation’s second-largest coal producer, and a partner in the proposed Millennium Bulk coal-export terminal in Longview, filed for bankruptcy protection on Monday. Its filing means producers of 25 percent of America’s coal are now in bankruptcy.
The company blamed a steep drop in coal prices, increased federal pollution requirements and falling demand [...]
Excerpts from the Contra Costa Times:
The environmental review for the terminal project did not examine the effects of coal shipments because they weren’t an option being discussed.
Now, Tagami thinks nothing of breaking his promises when money stares him in the face. Four Utah counties are prepared to invest $53 million into the terminal [...]
A battle among Arch Coal Inc. creditors is intensifying as the miner prepares for a potential bankruptcy filing.
A group of middle-tier bondholders hired law firm Brown Rudnick LLP to help protect their investments as the miner moves toward restructuring its $5.1 billion of debt in court proceedings, according to a person with knowledge of [...]
From the Salt Lake Tribune:
Utah’s proposed $53 million investment in an Oakland, Calif., export terminal is a flagrant abuse of community-impact funds that not only violates federal and state law, but will also subsidize private coal mining corporations and out-of-state developers at the expense of Utah taxpayers and local governments.
That’s according to two [...]
Excerpts from the Moab Times:
In an Oct. 22 letter to Utah Attorney General Sean D. Reyes, Moab attorney Christina Sloan asserted that under state and federal law, Community Impact Fund Board (CIB)-funded projects must be public infrastructure or services that are open and available to the citizens.
The Utah Attorney General’s office confirmed that [...]
From the Wall Street Journal:
A proposal that could make this city a gateway for Utah coal to be shipped overseas has become a political flash point and put pressure on Gov. Jerry Brown, a former mayor known for his warnings on climate change, to come out against the project.
But the idea of coal [...]
From an article titled ‘Fitch: Higher default rates expected for US coal sector”:
Should Arch Coal, Inc. and Peabody Energy Corp. file for bankruptcy, the industry bond default rate would surpass 50%, according to Fitch Ratings. The wave of bankruptcies in the U.S. coal space has caused the broader metals/mining sector default rate to rise [...]
Ambition has become a scarce commodity at the top end of mining.
Projects are being been delayed, expansions shelved, exploration stalled, assets sold and expenditures deferred.
Nowhere is this thrown in sharper relief than at BHP Billiton, the world’s largest mining company, by a wide (if declining) margin.
The Melbourne-based giant released [...]
ILWU Local 10 Business Agent Derrick Muhammad speaks out against coal for health and economic reasons — and others were exploited to show ‘support’ in exchange for a free T-shirt and meal — in this news clip from KPIX titled ‘Oakland Residents Weigh In On Proposed Coal Train Terminal’:
Hundreds gathered in Monday night [...]
© 2016 Longshore & Shipping News, Coast Longshore Division, International Longshore and Warehouse Union, - All Rights Reserved
Powered by WordPress & Atahualpa