Cloud Peak Energy Inc. (fka CLDPQ)

[eFinanceMarkets]

$CLD Cloud Peak Energy (NYSE:CLD) +1.9% after hours on news it entered into a coal export sales agreement with Singapore's JERA Trading for two 540 MW power plants being developed by Mitsubishi and Tokyo Electric Power.

CLD says coal produced at its Spring Creek mine in Montana, will be carried by rail to Westshore Terminals in Vancouver, for loading onto ocean-going vessels for delivery to two new state-of-the-art IGCC coal-fired power plants in Fukushima, Japan; shipments are expected to begin as soon as the end of 2019 and continue for 30-40 months, reaching up to 1M metric tons in the final contract year.

Asian markets have been critical to global coal's rebound, as “the reality is in the U.S. we’re not expecting any significant growth... the one growth opportunity we’ve got are Asian exports," CLD CEO Colin Marshall tells WSJ.

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