SunCoke Energy Partners, L.P. Secures Barge Unloading Capabilities At Its Convent Marine Terminal
LISLE, Ill., Dec. 13, 2017 /PRNewswire/ -- Today, SunCoke Energy Partners, L.P. (NYSE: SXCP) announced that it has begun offering barge unloading services at its Convent Marine Terminal in combination with stevedoring and barge services provider Cooper Consolidated, LLC. The multi-year agreement between CMT and Cooper Consolidated provides for the use of Cooper Consolidated's extensive floating crane fleet and its unique Louisiana Mid-Stream One transload system to efficiently unload coal, petroleum coke and other materials from barges at CMT's dock. The companies recently demonstrated their combined capability by successfully unloading the first 30-barge shipment of coal bound for the export market.
The addition of barge unloading capabilities complements Convent's existing rail and truck offerings, and provides the terminal with the ability to transload, blend and store a significantly broader array of materials going forward.
"We are excited to announce our alliance with Cooper Consolidated and the launch of our barge unloading service at CMT," said Mike Hardesty, Senior Vice President, Commercial Operations, Business Development, Terminals and International Coke. "Through this agreement, CMT is positioned to offer a more flexible range of transport options to new and existing customers at the terminal. We continue to work towards driving $5 million to $10 million of additional earnings across our logistics portfolio over the next couple of years, and are confident that this capability will further differentiate CMT as a world-class terminal for both bulk and liquids shipments."
CMT is one of the largest terminals on the U.S. Gulf Coast, and the only bulk terminal in the region that provides direct rail access for ocean going shipments. Convent has two independent shiploading systems, with its newest shiploader capable of accommodating 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.
For inquiries regarding potential opportunities at our CMT facility or for more information, please contact SunCoke's Investor Relations department or visit www.suncoke.com.
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 handling and/or mixing services of coal and other aggregates to the coke, coal, steel and electric utility 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 terminals have the collective capacity to mix and/or transload approximately 40 million tons of materials and store approximately 3 million tons annually, 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.
ABOUT COOPER CONSOLIDATED
Cooper Consolidated, LLC is a balanced, asset based provider of stevedoring, barge, marine, and logistics services. Cooper Consolidated's specialties are innovative transfer technologies and seamless cargo movements. Their services span the entire reach of the Lower Mississippi River between Southwest Pass and Baton Rouge. These services are provided and directed by their own assets and employees, thereby providing customers with the most reliable and flexible service that can be achieved.
FORWARD-LOOKING STATEMENTS
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.
SOURCE SunCoke Energy Partners, L.P.
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