Richards Bay Says Derailment Cancels the Delivery of 150,000 Tons of Coal

(Bloomberg) -- Richards Bay Coal Terminal, the
worlds biggest export terminal for the fuel, said a derailment on
a line to the port led to the cancelation of 15 trains, carrying
about 150,000 metric tons of coal.

The incident occurred yesterday at Ilangakazi in KwaZulu
Natal, a province of South Africa, a spokesman for the port said
in an interview from Johannesburg. The line has since been
reopened, the spokesman said.


Read more at Bloomberg Energy News

Group fights higher taxes on buyout firms, funds

(Reuters) - Republican Rep. Eric Cantor of Virginia is heading a
coalition backed by the financial services, real estate, resort
and energy industries to thwart a U.S. House bill that takes
aim at the 15 percent tax rate now paid by most managers of
private equity funds, hedge funds and other investment
partnerships.




The Coalition for the Freedom of American Investors and
Retirees also opposes a bipartisan Senate bill that would close
a loophole that allows private equity firms to go public as
partnerships without paying corporate taxes.


Read more at Reuters.com Government Filings News

Macarthur Coal to Restart Shipments From Queensland's Abbot Point Terminal

(Bloomberg) -- Macarthur Coal Ltd., which supplies a
fifth of world export demand for pulverized coal, said it will
restart shipments from the Abbot Point Coal Terminal in
Australia's Queensland state from July 1.

The company plans to export 560,000 metric tons of coal from
its Coppabella and Moorvale mines through Abbot Point in the year
ending March 31, Brisbane-based Macarthur Coal said today in a
statement to the Australian Stock Exchange. Exports have been
suspended since late 2006 while the port was expanded.


Read more at Bloomberg Commodities News

Qinhuangdao Coal Prices Rise to Record on China Summer Electricity Demand

(Bloomberg) -- Prices of coal at Qinhuangdao,
China's largest port for the fuel, rose 8 percent to a record as
the country increased consumption of electricity in summer.

The price climbed 40.38 yuan ($5.30) a metric ton to 560.40,
without shipping cost, for immediate delivery for the week ended
June 15, according to the McCloskey Group. Coal producers
additionally pay as much as 40 yuan for every ton they mine as a
fee toward conserving the country's natural resources.


Read more at Bloomberg Energy News

Datong Coal to Sell Up to 300 Million Shares in Hong Kong to Fund Projects

(Bloomberg) -- Datong Coal Industry Co., China's
second-largest coal producer by capacity, plans to sell as many
as 300 million shares in Hong Kong to raise funds for
acquisitions and projects.

The company plans to hold the share sale within 12 months,
it said in a statement to the Shanghai Stock Exchange today.


Read more at Bloomberg Energy News

German Power Prices for 2008 Drop as Carbon Dioxide Emissions Permits Fall

(Bloomberg) -- German power prices for next year fell after European Union carbon dioxide allowance contracts declined, reducing the costs of burning fossil fuels such as coal.

Power for 2008 delivery in Germany, Europe's biggest market, fell for a second day, declining 0.3 percent, or 15 cents, to 54.20 euros ($73.44) a megawatt-hour, according to prices from broker GFI published on Bloomberg at 10:23 a.m. Berlin time.


Read more at Bloomberg Energy News