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By Chris Cooper and Kiyotaka Matsuda
Daiichi Chuo Shipping sees boom in US imports as increased use of shale gas frees coal for export
(Updates with closing share price in fifth paragraph.)
Jan. 25 (Bloomberg) -- Daiichi Chuo Kisen Kaisha, a Tokyo- based shipping line, said it’s targeting a boom in coal exports from the U.S. as shale gas production frees up the fuel for sales overseas. The shares jumped the most in three years.
“Exports of coal from the U.S. could easily double in the next three or four years,” Saburo Koide, president of the company, said in an interview in Tokyo yesterday. “We’ve already had several inquiries on shipping coal from there,” he said, declining to name potential customers.
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Dow Jones Newswires
CSX Corp. (CSX) executives forecast continued strong U.S. coal exports in 2012, although they said the railroad's coal shipments likely will be down overall because of slack demand from domestic electric utilities.
Read more: http://www.foxbusiness.com/
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Please note the change of date for the monthly KVMI Meeting initially set for February 2 has now been moved to Thursday, February 9 to avoid conflict with the WV Mining Symposium.
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Clarence Frederick "Fred" Shewey, 95, of Gainesville, FL, formerly of Kermit, passed away January 16, 2012, at home of complications due to kidney disease.
Fred was an influential community and business leader in the Tug Valley region of West Virginia for many years. He was a major force in the state's natural resource industries, beginning in oil and gas and evolving into lumber and coal. He was one of the founders of Dash Coal Company, which grew into International Industries, Inc. He worked daily with his dear friend and business partner, James H. "Buck" Harless. In addition, he was owner and president of Grey Eagle Construction Company, Inc.
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Faces of Coal has released a new video “At a Loss for Words” that shows the damage being done to the region’s economy by the EPA’s on-going war on coal. The video features Rep. Hal Rogers of Kentucky, State Senator Art Kirkendoll of Logan and several working coal miners and community leaders discussing the threat posed by the EPA’s regulatory onslaught. The video can be viewed at the FACES website at http://www.facesofcoal.org/
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