CMT boosts SunCoke’s coal logistics business

SunCoke Energy’s coal logistics business reported revenues of US$11.2 million, an increase of US$2.6 million on the previous year, on the back of a US$7 million contribution from the Convent Marine Terminal (CMT). SunCoke acquired CMT in the third quarter of last year for US$412 million.

CMT handled 0.98 million short t of coal in 2Q16, helping to offset a 1.13 million short t fall in coal handling at SunCoke’s other facilities.

In addition to CMT, SunCoke Energy’s coal logistics business offers coal handling and blending services at Lake Terminal in East Chicago, Indiana, Kanawha River Terminals, which owns terminals along the Ohio and Kanawha rivers in West Virginia, and Dismal River Terminal in Virginia.

Overall SunCoke lost US$4.6 million in 2Q16, up from a US$13.5 million loss over the same period in 2015 and despite a US$55.5 million fall in revenues. Revenues fell to US$292.7 million over the three months to June, compared to USS$348.2 million in 2Q15.

SunCoke suppliers coke to the steel industry, owning cokemaking facilities in Illinois, Indiana, Ohio and Virginia in the US, as well as in Brazil and India.

Edited by Jonathan Rowland.

Read the article online at: https://www.worldcoal.com/handling/02082016/cmt-boost-suncoke-coal-logistics-business-2016-2134/