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News Breaks
August 8, 2014
09:18 EDTWLB, CLDCloud Peak amends throughput agreement with Westshore Terminals
Cloud Peak Energy (CLD) announced that its logistics business has increased its committed capacity and extended the term of its throughput agreement with Westshore Terminals Limited Partnership for exports of low sulfur coal from Roberts Bank, British Columbia. In a related agreement, Cloud Peak Energy paid $37M to Coal Valley Resources, a recently acquired unit of Westmoreland Coal (WLB), for CVRI to voluntarily terminate its throughput agreement with Westshore Terminals, freeing up available space at the fully utilized Westshore Terminal. The amendment to Cloud Peak Energy’s throughput agreement is effective as of January 1, 2015 and extends the term through the end of 2024. The amendment also increases annual throughput volumes and associated take-or-pay commitments. As a result of the amendment, Cloud Peak Energy expects to increase its 2015 Asian exports to 6.0 to 6.5 million tons, compared to the 4.0 to 4.5 million tons currently forecasted for 2014. Cloud Peak Energy plans to provide additional 2015 export guidance in early 2015 as part of its year-end 2014 earnings announcement. Starting in 2019, Cloud Peak Energy expects to increase its Asian exports through the Westshore Terminal to 7.0 to 7.5 million tons.
News For CLD;WLB From The Last 14 Days
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January 20, 2015
11:44 EDTWLBWestmoreland reports receipt, termination of imminent danger order at Kemmerer
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09:36 EDTCLDCloud Peak upgraded to Overweight from Equal Weight at Morgan Stanley
January 15, 2015
10:00 EDTCLDOn The Fly: Analyst Initiation Summary
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05:31 EDTCLDCloud Peak initiated with an Overweight at Barclays
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