James River chief: Market at ‘inflection point,’ rails will clear ‘in a few months’

摘要

James River Coal’s chief executive had upbeat forecasts for the company’s Central Appalachian and Illinois Basin coal sales, though he said the company will continue to curtail steam coal production this year until demand rises. Peter Socha, also the company’s chairman, told analysts during a Friday morning earnings call, “My view is, we are at an inflection point in the market. Things are starting to turn around.” C.K. Lane, company senior vice president and chief operating officer, tempered Socha’s glowing remarks. “We did idle some of our mines for a total of 128 shifts in the fourth quarter,” and that helped align supply more closely with demand, he told analysts.