The sale was made by Xcoal, as the result of an Asian marketing initiative announced last month by Consol. The sale is for a Panamax vessel of approximately 82,000 short tons. The cargo is destined for merchant coke plants in the Tianjin/Guafeng area of China.
J Harvey, president and CEO of Consol Energy, said: “Consol Energy is enthused that Xcoal was able to quickly validate the concept of marketing our Northern Appalachian coal to coke plants in Asia.
“We have a lot more optionality with regard to our Northern Appalachian coal because of this initiative. While we’re not disclosing specific terms, I can tell you that Consol will receive a significant premium for its Bailey Mine coal, when compared to its local thermal market. I believe that this sale will immediately establish Consol as a premium brand in Asia.”
