SunCoke Energy's coal handling volumes increased to 5.2 million st during the second quarter, up 22.9% from the year-ago quarter, the company said Thursday.
For the first half of 2017, tons handled totaled 10.9 million st, up 27.8% from the same period in 2016, the Lisle, Illinois-based company said in an earnings presentation.
SunCoke, which owns and operates the Convent Marine Terminal in Louisiana along with terminals in West Virginia and Virginia, took advantage of increasingly improving export dynamics to boost coal handling revenues.
Improving export dynamics have included higher delivered European thermal coal prices, which averaged $76.65/mt for the quarter for CIF ARA 6,000 kcal/kg NAR. By comparison, the S&P Global Platts assessed price for the same delivered route averaged $48.50/mt during the year-ago quarter.
Take-or-pay shortfall tons at CMT, which primarily handles coal from the Illinois Basin totaled 956,000 st in the quarter, down 40.8% from the year-ago quarter. Year to date, take-or-pay shortfall tons have totaled 1.5 million st, down 53.9% from the same period a year ago.
