SunCoke Energy, Inc. Update On Convent Marine Terminal Operations In Louisiana
SunCoke Energy, Inc. (NYSE: SXC) has temporarily suspended operations at its Convent Marine Terminal due to a power outage caused by Hurricane Ida, which affected its utility supplier's electrical systems.
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Rhea-AI Summary
SunCoke Energy, Inc. (NYSE: SXC) has temporarily suspended operations at its Convent Marine Terminal due to a power outage caused by Hurricane Ida, which affected its utility supplier's electrical systems. The terminal has sustained modest damage, and operations are expected to resume within 24 to 48 hours once electricity is restored. SunCoke specializes in the production of high-quality coke used in steel manufacturing and has over 60 years of experience in the industry.
Positive
- Convent Marine Terminal expected to resume operations within 24 to 48 hours.
- SunCoke has more than 60 years of experience in cokemaking.
Negative
- Temporary suspension of operations due to Hurricane Ida's impact.
Details
News Market Reaction – SXC
The recorded move for SXC in the trading session of this news was -0.86%.
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LISLE, Ill., Aug. 31, 2021 /PRNewswire/ -- SunCoke Energy, Inc. (NYSE: SXC) today reported the temporary suspension of operations at its Convent Marine Terminal on the Louisiana Gulf Coast, due to a power outage from the company's utility supplier which has experienced catastrophic damage to its electrical transmission and distribution systems as a result of Hurricane Ida. Convent Marine Terminal has sustained modest damage and operations there are expected to resume within 24 to 48 hours of electricity being restored.
ABOUT SUNCOKE ENERGY, INC.
SunCoke Energy, Inc. (NYSE: SXC) supplies high-quality coke used in the blast furnace production of steel, under long-term, take-or-pay contracts that pass through commodity and certain operating costs to customers. We utilize an innovative heat-recovery technology that captures excess beat for steam or electrical power generation. Our cokemaking facilities are located in Illinois, Indiana, Ohio, Virginia and Brazil. We have more than 60 years of cokemaking experience serving the integrated steel industry. In addition, we provide export and domestic material handling services to coke, coal, steel, power and other bulk and liquids customers. Our logistics terminals have the collective capacity to mix and transload more than 40 million tons of material each year and are strategically located to reach Gulf Coast, East Coast, Great Lakes and international ports. To learn more about SunCoke Energy, Inc., visit our website at www.suncoke.com.
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SOURCE SunCoke Energy, Inc.
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