Coal exports from terminals in Virginia’s Hampton Roads region totaled more than 26.8 million st in 2015, according to December export data released Wednesday by the Virginia Maritime Association. The 2015 total was down 34.8% from 2014 and the lowest annual total since 2007, when the combined terminals exported 22.5 million st. Coal exports from the three terminals peaked at 49.7 million st in 2013. The ongoing downturn in US coal exports is largely the result of low global prices for thermal and metallurgical coal. Compared with January 2014, current US thermal coal prices for the front-month Central Appalachia rail (CSX) futures contract have fallen 42% while current US met coal prices (Low Vol FOB US East Coast) have declined 39.5%. The drop in US prices has mirrored declines in global benchmark coal prices. The delivered price of thermal coal into Northern Europe, Platts’ CIF ARA marker, has declined […]