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With the world coal market roiled by supply problems, there is increasing talk of exporting U.S. western coal into the Pacific Basin, Reuters reported. Peabody Energy Corp, acknowledged in its fourth quarter performance conference call considering exports to Asia from the West Coast.
In related developments, Union Pacific Railroad is exploring coal export opportunities through U.S. West Coast ports, a spokeswoman confirmed. The Port of Long Beach, Calif., has had discussions about exporting coal in addition to the petroleum coke it already handles, a spokesman said. And the biggest coal port on the West Coast Westshore Terminals Ltd. at Vancouver, BC, has had inquiries, an executive said.
Growing demand and delivery problems in key producing countries have realigned the world coal market in recent months, making U.S. coal more attractive overseas.
Eastern U.S. coal already is flowing to Europe, and prices for U.S. coal have been driven past $70 a ton on the New York Mercantile Exchange, nearly doubling in a year.
Talks and planning were described as preliminary and few details were available.
In a quarterly conference call January 31, Peabody Energy Corp. executives said they already have shipped some western bituminous coal to Japan through California.
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