- Associated Press - Wednesday, July 22, 2015

CONVENT, La. (AP) - SunCoke Energy Partners LP will expand into handling coal exports with the $412 million acquisition of Convent Marine Terminal, one of the Gulf Coast’s largest export facilities.

The Advocate reports (https://bit.ly/1HIIG84) the terminal can export up to 10 million tons of coal per year, and almost all of the facility’s capacity is taken up by long-term contracts. The facility has improved its efficiency with a recently completed $100 million revamp, and SunCoke expects to up the export capacity to 15 million tons through an additional $20 million investment that includes a new ship loader.

SunCoke Chief Executive Officer Fritz Henderson called the acquisition a compelling strategic fit to the company’s coal logistics business.

SunCoke expects to complete the deal with Raven Energy Holdings LLC by Sept. 1.

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Information from: The Advocate, https://theadvocate.com

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