GLG News by Offshore Drilling Rig Experts

    Coal prices delivered into Europe are currently above $100/tonne (metric ton) as measured by the API 2 Index. This is up approximately 50% from prices being quoted for this same period at the beginning of 2007.     The commentary that follows evaluates the...

    Current delivered coal prices into Europe have crossed over the $100/tonne (metric ton) threshold as measured by the API 2 Index into Northern Europe. That is up ~50% from prices for this period quoted at the beginning of 2007.     The commentary discusses...

    The upgrade by Stifel Nicolaus & Co. of Massey Energy is representative of the bullishness in the U.S. coal sector. The commentary section discusses the positives in the coal sector.

Consol Energy’s acquisition of Tri-River Fleeting Harbor Services and Ti-River Marine towboat fleet continues its shrewd investment of Ohio River and Monongahela River assets. This follows Consol Energy’s 2006 acquisition of the Guttman Group Mon River and J.A.R. towboat and barge assets.

    As the article points out China’s demand for coal has impacted the global coal situation. This and other issues discussed below are bullish for US coal producers.

    The long-awaited Surface Transportation Board (STB) rate case decisions for coal transportation to captive BNSF Railway customers demonstrates it is nearly hopeless under the current process to successfully challenge a coal transportation rate.

    The Surface Transportation Board (STB) decided two Western coal transportation rate cases for the transportation of Powder River Basin coal in favor of the BNSF on September 10, 2007. Besides the STB’s decision being positive for the coal-hauling Class I Railroads, it is also...

    Section 29 of the U.S. Tax Code provides a tax credit to create synthetic fuel from coal material. The Section 29 tax credits date back to the early-1970s in the energy crisis and were designed to encourage more domestic, rather than foreign, energy sources. In many cases, without...

    A few decisions in September 2007 have been good news for building new coal-fired power plant generation. This shows it is not impossible to build a new coal-fired plant because of coal’s carbon dioxide emissions and the belief by some that these emissions contribute to global...

    Consol Energy Inc.’s continued placement of Northern Appalachian Coal as discussed in this and other announcements demonstrate the scrubber and high heat and sulfur content thesis the company has been discussing for over two years.     The...