LISLE, Ill.--(BUSINESS WIRE)--Today, SunCoke Energy Partners, L.P. (NYSE: SXCP) announced it is piloting a new line of business at its Convent Marine Terminal (“CMT”) with a U.S. utility customer to transload thermal coal destined for the domestic marketplace. The Partnership recently received its first in-bound train and estimates the potential Q4 2016 opportunity to be 50,000 to 100,000 tons of throughput. Any future volumes will be shipped on a merchant basis and are subject to customer needs.
Since its acquisition in August 2015, Convent Marine Terminal has predominantly handled export-bound thermal coal on behalf of low-cost, Illinois Basin coal miners, and this pilot marks the Partnership’s entrance into the domestic marketplace. The Partnership continues to actively seek ways to expand its customer base and product mix.
“We’re excited to announce our expansion into the domestic thermal coal market at Convent,” said Fritz Henderson, Chairman, President and Chief Executive Officer of SunCoke Energy Partners, L.P. “While we’re still in the early stages of this initiative, we look forward to working collaboratively with our new customer in supporting their logistics needs.”
In addition, SXCP announced it is in the final stage of commissioning its new, state-of-the-art shiploader, and expects it to be fully operational by the end of November. The new shiploader, which is the largest fixed-tower shiploader in the world, will increase the terminal’s annual loading capacity by 50 percent to 15 million tons.
Henderson continued, “We are proud of the work done by our people to finish the final phase of our modernization program, and look forward to further broadening the range of products and services we provide at Convent with the goal of securing additional new business.”
SXCP’S COAL LOGISTICS PLATFORM
The Convent Marine Terminal is one of the largest terminals on the U.S. Gulf Coast and the only one in the region that provides direct rail access and is dredged to accommodate cape-sized ocean vessels. Its location on the Lower Mississippi River, 1.5 million tons of ground storage and unique inbound and outbound capabilities provide a cost-effective option for transloading a range of bulk materials and liquids.
SXCP’s network of coal logistics terminals is strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports, and has 40 million tons of annual transloading capacity. Its assets, coal blending expertise and unique access to the Norfolk Southern, Canadian Northern and CSX rail networks offer flexibility and efficiency for receiving and delivering coal by river barge, ocean vessel, truck and rail.
SXCP will host its quarterly earnings call at 10:00 a.m. Eastern Time (9:00 a.m. Central Time) on October 20, 2016. The conference call will be webcast live and archived for replay in the Investors section of www.suncoke.com. Investors may participate in this call by dialing 1-866-393-4306 in the U.S. or 1-617-826-1698 if outside the U.S., confirmation code 89771946.
ABOUT SUNCOKE ENERGY PARTNERS, L.P.
SunCoke Energy Partners, L.P. (NYSE: SXCP) is a publicly traded master limited partnership that manufactures high-quality coke used in the blast furnace production of steel and provides export and domestic coal handling services to the coke, coal, steel and power industries. In our cokemaking business, we utilize an innovative heat-recovery technology that captures excess heat for steam or electrical power generation and have long-term, take-or-pay coke contracts that pass through commodity and certain operating costs. Our coal handling terminals have the collective capacity to blend and transload more than 40 million tons of coal each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. SXCP’s General Partner is a wholly owned subsidiary of SunCoke Energy, Inc. (NYSE: SXC), which has more than 50 years of cokemaking experience serving the integrated steel industry. To learn more about SunCoke Energy Partners, L.P., visit our website at www.suncoke.com.
Some of the statements included in this press release constitute “forward-looking statements.” Forward-looking statements include all statements that are not historical facts and may be identified by the use of such words as “believe,” “expect,” “plan,” “project,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “will,” “should” or the negative of these terms or similar expressions. Forward-looking statements are inherently uncertain and involve significant known and unknown risks and uncertainties (many of which are beyond the control of SXCP) that could cause actual results to differ materially.
Such risks and uncertainties include, but are not limited to, domestic and international economic, political, business, operational, competitive, regulatory, and/or market factors affecting SXCP, as well as uncertainties related to: pending or future litigation, legislation or regulatory actions; liability for remedial actions or assessments under existing or future environmental regulations; gains and losses related to acquisition, disposition or impairment of assets; recapitalizations; access to, and costs of, capital; the effects of changes in accounting rules applicable to SXCP; and changes in tax, environmental and other laws and regulations applicable to SXCP’s businesses.
Forward-looking statements are not guarantees of future performance, but are based upon the current knowledge, beliefs and expectations of SXCP management, and upon assumptions by SXCP concerning future conditions, any or all of which ultimately may prove to be inaccurate. The reader should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. SXCP does not intend, and expressly disclaims any obligation, to update or alter its forward-looking statements (or associated cautionary language), whether as a result of new information, future events or otherwise after the date of this press release except as required by applicable law.
SXCP has included in its filings with the Securities and Exchange Commission cautionary language identifying important factors (but not necessarily all the important factors) that could cause actual results to differ materially from those expressed in any forward-looking statement made by SXCP. For information concerning these factors, see SXCP’s Securities and Exchange Commission filings such as its annual and quarterly reports and current reports on Form 8-K, copies of which are available free of charge on SXCP’s website at www.suncoke.com. All forward-looking statements included in this press release are expressly qualified in their entirety by such cautionary statements. Unpredictable or unknown factors not discussed in this release also could have material adverse effects on forward-looking statements.