BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list
Coal

Alabama's Birmingham Coal & Coke files for Chapter 11 bankruptcy

Coal | Electric Power | Natural Gas

Rally in natural gas prices, lower storage levels throw uncertainty into US winter power outlook

Coal

Platts Global Coal Alert

Metals | Steel

15th Annual Steel Markets North America

Coal

Judge approves Murray Energy contract settlement with FirstEnergy Solutions, FirstEnergy Generation

Alabama's Birmingham Coal & Coke files for Chapter 11 bankruptcy

Highlights

Daily pricing for tons and allowances for SO2 and NOx emissions

The exclusive Platts OTC Broker Index, a market assessment compiled from three of the largest and most respected coal brokers

What happened in yesterday's OTC markets, and why

An analysis of coal price trends in all major U.S. producing areas

Details of how major coal companies are trading in the financial markets

Coverage of mine openings, closings, production

Reports on who's in the market for coal

Houston — Birmingham Coal & Coke Co., an Alabama producer and subsidiary of CanAm Coal, filed for Chapter 11 bankruptcy on Wednesday, adding to the string of troubles for the Appalachian coal industry.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Alberta, Canada-based CanAm said in a statement that during the financial restructuring, Birmingham "will operate its businesses, continue customer shipments, continue to honor its obligations to its landowners and will continue to pay its employees in the normal course."

Birmingham Coal & Coke operates the Gooden Creek, Old Union, Bear Creek and Knight surface thermal coal mines in Alabama. Combined, the mines produced 117,579 st in the first quarter of 2015 and 356,426 st in all of 2014, according to Mine Safety and Health Administration data.

"Over the past several years, the coal markets in the US have faced a number of significant challenges, including increased environmental regulations and reductions in demand due to weaknesses in the US and global economy and lower natural gas prices," CanAm CEO Jos De Smedt said. "This environment has created an extremely challenging financing environment as the company attempted to refinance its existing debt obligations.


"Additionally, weakness in the local thermal coal market in the fourth quarter of 2014 and the first quarter of 2015, combined with a cold and extremely wet winter that impacted the mining and shipment of coal, has continued to erode CanAm's cash position," he said.

In papers filed with the US Bankruptcy Court for the Northern District of Alabama, Birmingham states it has 50 to 99 creditors and lists the worth of its assets between $10 million and $50 million. The producer lists a total of $3.5 million owed to 13 unsecured creditors, with almost $3.1 million due to the Alabama State Lands Division.

--Jim Levesque, jim.levesque@platts.com
--Edited by Kevin Saville, kevin.saville@platts.com