(Source: Reuters, October 17, 2012)
NEW YORK — U.S. railroad CSX Corp., which serves the U.S. East Coast, said it expected continued soft demand for coal among utilities, a key market for the company, but shipments should begin to flatten next year as electricity providers work down their coal inventories.
“Utility coal volume will continue to be challenged by low gas prices and high utility stockpiles,” Clarence Gooden, chief sales and marketing officer, said on the company’s earnings conference call.
Full story: Reuters