Arch Coal Inc said on Tuesday it signed an agreement for a Canadian Pacific Coast shipping terminal as part of its strategy to export more coal to Asian markets.
The deal with Canadian Crown Corp Ridley Terminals Inc to use the marine terminal near Prince Rupert, British Columbia, comes a week after Arch paid $25 million for a 38-percent stake in Millennium Bulk Terminals-Longview LLC’s bulk commodity terminal on the Columbia River near Longview, Washington.