Cargo Business Newswire

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Thursday, April 19, 2012

Port of Coos Bay pursues coal terminal deal

For the past six months, the Port of Coos Bay has been negotiating with investors as one of six Northwest ports pursuing a contract to develop a coal export terminal. Investors want to transport coal from mines in the Powder River basin in Montana and Wyoming to Asia.

Port CEO David Koch told Northwest Public Radio that three companies are drafting plans for a coal terminal on a sandy spit near the entrance to the port. Koch said the prospective deal is to annually ship up to 10 million tons of coal purchased by an Asian power utility company.

Although Koch is not naming companies due to confidentiality agreements, EarthFix, the environmental reporting arm of Oregon Public Broadcasting, has discovered that the Japan-based international trading company Mitsui and California’s Metro Ports are involved in the negotiations. No binding contracts are in place since other ports are also competing for the coal terminal.

- Northwest Public Radio

Read the complete story: nwpr.org