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SunCoke buys Convent Marine Terminal

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World Coal,

SunCoke Energy Partners is to buy Convent Marine Terminal in Louisiana, US, for US$412 million from Raven Energy Holdings, an affiliate of The Cline Group.

“This acquisition will represent a compelling strategic fit by adding a preeminent export asset to our coal logistics business,” said Fritz Henderson, Chairman and CEO of SunCoke.

Convent Marine Terminal is one of the largest export terminals on the US Gulf Coast with direct rail access to Illinois Coal Basin producers and current capability to transload 10 million short tpa of coal.

A recent US$100 million investment has modernised and increased efficiency at the facility and, when combined with a further US$20 million in pre-funded investment, will expect capacity to 15 million short tpa.

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